Employment opportunities in the Middle East are receding rapidly as the slow global economic recovery, low oil prices and regional instability hit business confidence, according to the Monster Employment Index for the Middle East.

The survey, a monthly gauge of online job posting activity, fell to minus 17 per cent last month from minus 4 per cent in April.

But employment opportunities in Bahrain and the UAE rose by 9 per cent year on year last month.

“While Bahrain and the UAE continue to exhibit growth in hiring at a moderate pace, ­e-recruitment activity in the region slipped 17 per cent below the corresponding period a year ago,” said Sanjay Modi, the regional managing director at Monster.com.

“With the domestic news agenda being dominated by austerity measures and the introduction of VAT, we expect 2016 to be a challenging year for the UAE as well.

“Under the current scenario, companies across the country, including government agencies, will have to establish a new order for promoting growth in the UAE and change their spending habits, while shifting energy production towards solar power and other alternative resources.”

In the UAE, online job postings in the healthcare sector rose by 34 per cent. It was followed by the consumer goods sector comprising fast-moving consumer goods, food and home appliance, with 29 per cent growth in job posts.

The least promising sector was hospitality, with online recruitment activity registering a 32 per cent fall last month, followed by the financial services industry.

Listings for the oil and gas and financial services sectors showed negative year-on-year growth of 18 per cent and 12 per cent.

Source: www.thenational.ae