The Bermuda jobs market has been hit hard by the falling value of the dollar, according to one of the Island's specialist recruitment agencies.

They reckon that potential employees are being lured away to places such as Canada and Dublin in Ireland because of the strength their respective currencies, the Canadian dollar and the euro, and the bigger financial rewards and packages companies in these places can offer.

Yesterday sterling was trading at $2.03, the euro exchange rate was close to $1.38 and the Canadian dollar hit a 30-year high of close to 96 US cents.