Recruitment specialist Hays yesterday said it was confident it could navigate economic volatility ahead as it reported a record quarter with fees up 15 per cent. In a trading update on the three months through September, the firm said that fees in permanent placings were up 16 per cent and temporary 14 per cent, while its Germany division surged ahead with 26 per cent growth. The positive results came a day after fellow recruiter Pagegroup also reported a quarter of "strong growth", with profits up 13 per cent in the third quarter. Hays group chief Alistair Cox said that economic conditions had begun to bite in the industry, however, as key markets showed signs of a slowdown and key markets became "characterised by acute skills shortages and wage inflation".

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