There’s a canary in the Brexit coal mine – and it’s gasping for air

Inside Business: Latest results for recruiter Michael Page are worrying, especially for Brexit-battered Britain

The job interview: recruiter Michael Page’s latest update shows firms are delaying decisions as the economy struggles (Getty)

Michael Page is what you might describe as a canary company when it comes to the UK and the world economy. It’s a recruiter that operates on a global scale, focusing on placing people into well-paying white-collar jobs.

Unemployment is what’s known as a lagging indicator when economists look at how economies are performing. Firing people is expensive and disruptive so companies only move when they have to, when things have clearly entered a downward spiral.

But recruitment behaves a little differently. One way employers respond if they see troubles ahead is by delaying it. They put off making decisions and let things ride until they have a clearer idea of the outlook. If that’s what is starting to happen, the results of companies like Michael Page are where you’ll see it first.