The U.K.'s largest recruiter, Hays PLC (HAS.LN), doesn't expect a recovery in the U.K. job market this year, but rather "fragile stability" in volumes, Finance Director Paul Venables said Thursday.

The job market in the U.K. outside of London is still in recession, he told reporters on a conference call. He added there is no stimulus in the U.K. for a rebound in the market, or anything that will drive potential job opportunities, and that the upcoming May 6 general election also reduces confidence.

Candidate confidence to change jobs is what drives demand for the company and although activity levels and sentiment in the U.K. have improved, this hasn't yet converted into any real increase in job levels, which would drive demand for Hays.

Contrary to the U.K., Hays' Asia Pacific and European markets are expected to grow. Venables said he expects to deliver "improved performance from now on and significant growth in the long term."

The finance director does not expect to add offices in Asia Pacific in the next three months because "there still is capacity coming out of the recession."

-By Anita Likus, Dow Jones Newswires; +44 20 7842 9407; anita.likus@dowjones.com
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