Recruitment companies have reported a significant decline in confidence across Europe and the UK, largely due to political uncertainty and concerns over economic growth, reflected in falling profits.
Germany's economy has fluctuated between growth and contraction for two years, narrowly avoiding a recession, while France faces political instability as it attempts to stabilize its government.
PageGroup has noted a substantial drop in profitability across its European markets, particularly in Germany and France, indicating a wider trend of hesitance in recruitment.
The European Central Bank is considering interest rate cuts this year, but must carefully balance these changes to support economic stability without igniting further inflation.
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