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.