Robert Walters, the recruiter, has already warned net fee income has fallen 10% in the first two months quarter-on-quarter with the upshot that profit in 2023 will be “significantly lower" than market forecasts.
No details accompanied the statement about where the weakness was being felt hardest, but with jobs seen as a bellwether for the economy generally how the UK is holding up will be worth noting.
Robert Walters said it has yet to see any sustained improvement in the lower levels of candidate confidence and longer hire times signalled in the latter half of 2022.
Broker Liberum cut its adjusted profits forecast for the current year by 51% to £26mln, adding that if the dip is short-lived any recovery should be "materially ahead" of its current forecasts given Walters's own recent investment in headcount.
But as it adds “there is no visibility on this” though things should be clearer after tomorrow.