Quantcast
Sunday , August 20 2017
Breaking News
Home / International Customs / UAE hiring drops 35% but 2017 outlook positive
UAE hiring drops 35% but 2017 outlook positive

UAE hiring drops 35% but 2017 outlook positive

DUBAI: The availability of new jobs across all industries in the UAE remained scarce in November, but the outlook for career seekers in 2017 looks positive, according to the latest hiring tracker report. The Monster Employment Index, which monitors thousands of online job listings, showed that vacancies posted online by UAE employers dropped by 35 per cent in November compared to the same period in 2015, as businesses find ways to cope with low oil prices.

The sectors hit by job slowdown the most are banking, financial services, insurance and hospitality. However, some professionals with certain skills and experience are proving to be in demand, with hiring for purchase, logistics and supply chain roles posting a 19 per cent growth. These are the only positions registering an increase in demand in UAE, according to Monster.com. The job tracker also assured that 2017 will be a better year for those hunting for new employment opportunities in UAE, as businesses look more confident and market conditions seem to have stabilised. Besides, more workers are expected to move jobs, thereby creating talent gaps for other jobseekers to fill, while two thirds of employers are looking to grow their workforce. “It appears that UAE businesses are taking a cautious approach to growing their workforce, however, this is likely to change in 2017 as confidence is restored with more stable market conditions,” said Sanjay Modi, managing director at Monster.com, Asia Pacific and Middle East.

“While online hiring activity in the UAE currently remains very low, the movement of employees and employee talent gaps will create more opportunities but higher competition for jobseekers, making it important for [candidates] to find ways to stand out.” According to Hays, more than half (55 per cent) of workers in the UAE anticipate moving employers this year, as many professionals (55 per cent) feel there is no scope to progress in their current organisation. The employment index showed that job offers in the banking, financial services and insurance industry posted the steepest decline at 39 per cent, followed by hospitality at 37 per cent and retail/trade and logistics at 35 per cent. Slower declines were recorded in the education sector (-1 per cent), as well as in production/manufacturing, automotive and ancillary (-8 per cent) and chemicals/plastic/rubber, paints, fertilizer/pesticides industries (-8 per cent).