DUBAI: Job creation in the Gulf Cooperation Council (GCC) region continued to slow down in May 2016, reflecting the tightening of labour market conditions amid a low oil price environment and global economic uncertainty, a new report showed. However, new employment opportunities are still being offered by some companies in certain industries.
The latest Monster Employment Index for the Middle East plummeted last month by 17 per cent compared to a year earlier and by 8 per cent compared to April. When hiring numbers are compared with last year’s data, however, UAE and Bahrain emerged as the top generator of jobs in the region, with online hiring in these two markets posting a 9 per cent growth.
Sanjay Modi, Monster.com managing director for Asia Pacific and Middle East, said he still expects 2016 to be a challenging year for the UAE and other aprts of the region. "Slow global economic recovery, cheap oil and regional instability have adversely hit the GCC economic and business confidence," said Modi.
“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,” Modi said.
Based on the hiring data compiled by Monster.com, there are hardly any new jobs available in industries like banking, financial services and insurance, where online recruitment dropped by 12 per cent in May from the same period in 2015.
Hiring in oil and gas companies also remained sluggish, posting an 18 per cent decline. The hospitality industry registered the biggest decline at 32 per cent.
On the bright side, the healthcare sector continued to lead the charge in job creation in the UAE, registering a 34 per cent year-on-year growth.
Businesses in the consumer goods, food, home appliance, garments, textiles, leather, gems and jewellery also showed a big appetite for recruitment, which went up by 29 per cent.
Companies in the retail, trade and logistics are also worth looking into, with online job postings in the industry rising by 28 per cent.
Candidates that are in demand are healthcare professionals, as well as those with qualifications and experience in sales and business development and engineering and production.
Those who might find it challenging to secure new roles are professionals in finance and accounting, marketing and communications/arts/creative and customer service.
