Despite a worldwide downturn in the job market, the British recruitment firm Robert Walters has seen a rise in earnings from its UK operations, driven by strong demand for accountants and temporary positions in London.
The company’s latest financial results reveal that while global hiring activity declined, its UK division bucked the trend, posting increases in the fees it generated. This performance helped offset the impact of the broader jobs slump experienced across Robert Walters’ international markets.
“Our UK business has demonstrated its resilience, with strong growth in fees driven by high demand for accountancy and finance professionals, as well as temporary recruitment,” said Robert Walters, the group’s chief executive.
The recruitment firm’s UK fees rose by 12% in the three months to the end of September, compared to the same period a year earlier. This growth was primarily fuelled by a surge in demand for accountants, as well as increased hiring for temporary roles in the capital.
In contrast, the company’s international operations struggled, with fees declining by 4% globally during the quarter. Walters attributed this to “the weaker macroeconomic environment” impacting hiring activity in many of Robert Walters’ overseas markets.
“While global market conditions remain challenging, we are pleased with the performance of our UK business, which has delivered another quarter of strong fee growth,” Walters added.
The divergent trends between the UK and international markets highlight the uneven nature of the current jobs landscape. While employers in Britain are still actively seeking talent, particularly in the accountancy and finance sectors, many overseas businesses have become more cautious in their hiring amid economic uncertainty.
Robert Walters, which operates in 31 countries worldwide, said it remained “cautiously optimistic” about the company’s full-year performance, despite the global headwinds.
The recruitment firm’s resilience in the UK market is a positive sign for the country’s employment outlook, even as broader economic conditions become more challenging. As businesses navigate the complex landscape, the demand for skilled professionals, especially in the finance and accounting fields, appears to be providing a source of stability for the domestic job market.
