Hiring in private sector loses pace - The National

Private-sector employment growth stalled last month for the first time in more than two years - further evidence of a loss of momentum in the UAE economy.

Only 5 per cent of companies took on workers during the month, according to HSBC's purchasing managers index (PMI). But recruitment growth remained largely flat as 5 per cent of companies also shed employees.

Average wages and salaries fell for the first time since November 2010.

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