Job hiring in Middle East slows down due to low oil prices

Job hiring in Middle East slows down due to low oil prices

The job market in the Middle East region including UAE has slowed down due to the falling oil prices and softening of Dubai real estate market. Organizations in the education industry posted the biggest decline in recruitment activity, with hiring growth dropping by 22 per cent year on year. Oil and gas companies registered drop in demand for additional employees and over 20 percent of other businesses also witnessed decline in property prices. Recent report mentioned that, more than 250,000 employees worldwide have lost their jobs, as oil and gas companies were forced to shut down rigs and tightened their belts to cope with the downturn.

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