Low oil prices hit UAE job growth, new report shows | The National

Low oil prices hit UAE job growth, new report shows | The National:



"Low oil prices have impacted job growth in the UAE in second quarter, but the number of new hires could increase in the second half, depending on how oil prices fare, a UAE employment report said.



In the second quarter of this year 8,109 professionals were hired, a 1 per cent drop from 8,213 in the first quarter, according to the Morgan Mckinley UAE quarterly employment monitor.



“The oil price went back up to $60 per barrel toward the end of the quarter, but it needs to go up by a further $5-$10 a barrel to make new drilling and exploration projects viable,” said Trefor Murphy, managing director for the Middle East and North Africa at Morgan McKinley, in the report."



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