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Future of British Business

UK Hiring Slowdown Hits Recruitment Shares Amid Recession Fears

  • Page’s stock tumbles the most since March after warning
  • Rivals also slide as rising rates increase concern on economy
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Recruitment companies’ shares fell after PageGroup Plc warned of a hiring slowdown as rising interest rates and inflation stoke fears that the economy will sink into a recession.

Page’s shares sank as much as 11%, the most since early March, after the company’s comments Monday. UK rivals Hays Plc and Robert Walters Plc fell 4% and 3.5%, respectively. SThree Plc, Randstad NV and Brunel International N.V. also slipped.