Hays takes a hit following slowdown in hiring in the UK

A hiring slump in the UK has even reached the big ranks: Hays, leading recruiting firm, has reported zero growth in fees over the last three months, citing the slowed job economy.

The decline in UK hires comes amid warnings from industry peers that there are "worrying storm clouds" forming around the UK jobs market.

Hays said that UK hiring fees fell by 2% for the quarter to June 30 on the back of a 6% fall in the fees from private sector hiring.

The recruitment firm said total fees were flat as strong growth in Germany helped to offset poor performances in the UK and Australia.

Shares in the company slipped as brokers, including Jefferies, said net fees for the UK, Australia and New Zealand were slightly below estimates.

In February, Hays said that weaker contractor extensions in Germany would impact the company.

The staffing business also said in January that growth in Britain was clearly lower than before the vote to leave the European Union in 2016.

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