In brief we have had a couple of international recruitment companies in the UK provide trading updates today, namely Page Group and Robert Walters. The latter, despite reasonable numbers in the year to date referenced "Macro Uncertainties" as a reason for expecting their full year results to be only in line with last year now. While Page used the following "heightened political and macro-economic challenges seen in the quarter, together with our limited forward visibility..."
So both pointing to a flat outcome rather than a disastrous collapse, just yet. But these can be a good indicator of coming problems as hiring is usually one of the first things to be cut back in more difficult times. Of course if all the troubles blow over and it turns out to be a mid cycle slow down, then maybe recruitment will pick up again with the economy, but they could be a Canary in a Coal Mine