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COMMENT ON ONS UK UNEMPLOYMENT FIGURES

16th November, 2011

Charles Logan, Director at the leading recruiting expert Hays, comments on today’s unemployment figures from the Office of National Statistics, which show that unemployment has increased to 2.62 million and youth unemployment has risen above a million:

“Recruiters continue to be faced with tough times. Confidence to recruit is low and job seekers are often reluctant to look for new positions. We are at a stage where companies are replacing people who leave, but the creation of new jobs remains scarce. In our experience, employers need talented people more than ever so they can gear up for growth. Despite the larger pool of people, finding people with the right skills and cultural fit for a company is challenging, particularly for senior roles, and that is where a good recruiter can really add value.

An increase in youth unemployment is worrying, but it is difficult for companies to continue to invest in the next generation of workers when resources are so stretched. Continued investment in developing skilled people is critical if we are to avoid a generation out of work and skill shortages further down the line.”

About Hays
Hays plc (the "Group") is a leading global professional recruiting group. The Group is the expert at recruiting qualified, professional and skilled people worldwide, being the market leader in the UK and Asia Pacific and one of the market leaders in Continental Europe and Latin America. The Group operates across the private and public sectors, dealing in permanent positions, contract roles and temporary assignments.

As at 30 June 2011, the Group employed 7,620 staff operating from 255 offices in 31 countries across 20 specialisms. For the year ended 30 June 2011:
- the Group reported net fees of £672 million and operating profit** of £114 million;
- the Group placed around 60,000 candidates into permanent jobs and around 190,000 people into temporary assignments;
- 31% of Group net fees were generated in Asia Pacific, 33% in Continental Europe & RoW (CERoW) and 36% in the United Kingdom & Ireland;
- the temporary placement business represented 54% of net fees and the permanent placement business represented 46% of net fees;
- Hays operates in the following countries: Australia, Austria, Belgium, Brazil, Canada, Colombia, China, the Czech Republic, Denmark, France, Germany, Hong Kong, Hungary, India, Ireland, Italy, Japan, Luxembourg, Mexico, the Netherlands, New Zealand, Poland, Portugal, Russia, Singapore, Spain, Sweden, Switzerland, UAE, the United Kingdom and the USA.

For further press information please contact:
Claire Fowler
Hays
T. 020 7259 8821
E. claire.fowler@hays.com


 

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