DUBAI

The Pak Banker - - INTERNATIONAL BUSINESS/SPORTS -

Com­pa­nies in the UAE were hir­ing less in re­cent months partly due to fall­ing oil prices, with the num­ber of jobs cre­ated drop­ping by one per cent in June from the first quar­ter of the year.

There were also less peo­ple look­ing for jobs in the UAE, as more em­ploy­ment op­por­tu­ni­ties open up in other mar­kets like the UK, Ire­land, Amer­ica, Aus­tralia and Asia. The latest UAE Em­ploy­ment Mon­i­tor re­port by Mor­gan McKinley showed that the de­cline in oil prices has slowed down the re­cruit­ment mar­ket in the coun­try, with the num­ber of va­can­cies of­fered drop­ping from 8,213 in the first three months of 2015 to 8,109 in the sec­ond quar­ter.

The "tail-off" in growth, how­ever, has also been due to Ramadan, as well as the sum­mer months, when many ex­pa­tri­ate work­ers travel back to their home coun­tries for the school break.

Re­cruit­ment spe­cial­ists had ear­lier con­firmed that com­pa­nies in the oil and gas sec­tor are trim­ming down their work­force as they seek to re­duce op­er­a­tional costs amid weak fuel prices. Ra­jiv Ra­manathan, as­so­ciate part­ner for hu­man re­sources con­sult­ing firm Aon He­witt, said that they have seen some job cuts in the UAE's oil and gas in­dus­try.

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