- Employers are facing a shortage of candidates and are unable to fill thousands of job vacancies since the start of this year.
- The permanent jobs index showed a drop in available staff from a peak of 72.7 in August 2021 to 59.2.
- Since 2019, around 500,000 people have quit the labour force.
A new report has highlighted that the crisis-of-living crisis has badly hit the UK jobs market as it is showing little signs of unwinding. According to the survey by the Recruitment and Employment Confederation (REC) and KPMG, employers are facing a shortage of candidates and are unable to fill thousands of job vacancies since the start of this year after an increase in job switching by workers since last year.
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The permanent jobs index showed a drop in available staff from a peak of 72.7 in August 2021 to 59.2. However, despite falling reading is far above the 50 thresholds for growth there was another slight decrease in the growth rate for salaries and temporary pay. Since 2019, around 500,000 people have quit the labour force mainly due to the pandemic.
The steep fall in the number of workers responding to job advertisements has left employers in a difficult situation as there is a dearth of skilled and unskilled workers even after offering attractive financial benefits.
Here are the three FTSE-listed recruitment stocks that you may keep eye on.
- PageGroup Plc (LON: PAGE)
The shares of the UK-based recruitment business, PageGroup Plc, were down by 2.00% and were trading at GBX 442.20, at 12:10 PM (GMT+1) on 10 June 2022. The company has given its shareholders a return of -27.79% over the last one year, while its year-to-date return stands at -30.07%. The FTSE 250-listed company’s market cap stands at £1,482.73 million as of 10 June 2022.
- Hays Plc (LON: HAS)
With a market cap of £2,013.21 million as of 10 June 2022, the shares of the FTSE 250-listed multinational company that offers recruitment and human resources services were trading at GBX 118.40, down by 2.47%, at around 12:10 PM (GMT+1) on 10 June 2022. The company has given its shareholders a return of -31.64% over the last one year.
- Staffline Group Plc (LON: STAF)
The market cap of the employment agency company, Staffline Group Plc, stands at £80.23 million as of 10 June 2022. The company’s shares were trading at GBX 48.40 at 12:10 PM (GMT+1), on 10 June 2022. The FTSE AIM All-Share listed company has provided its shareholders with a return of -16.19% over the last one year as of 10 June 2022.
Note: The above content constitutes a very preliminary observation or view based on market trends and is of limited scope without any in-depth fundamental valuation or technical analysis. Any interest in stocks or sectors should be thoroughly evaluated taking into consideration the associated risks.