Half of recruitment agencies are yet to be affected by the recession, according to new findings from industry analysts Plimsoll Publishing.

The market has not grown this year, compared to growth of almost 7% this time last year, with 281 firms witnessing a sales decline, some by as much as 16%, while 589 firms have seen a sales increase, in some cases up 15%.

Most recruiters report profits of less than 2%, with 441 firms witnessing a profits slump, but 559 firms have actually increased profitability.

David Pattison, senior analyst at Plimsoll, says: “The recession seems to have accelerated a shift in the market. Some companies have clearly been affected by those that have swapped to low-cost alternatives or by the loss of a key client. Others are clearly benefiting from this move.”