Though November saw a drop in new jobs across all industries in the UAE, 2017 seems to bring new hopes and possibilities, as per the recent hiring tracker report. The Monster Employment Index monitors numerous online job listings. It showed that November month saw a drop of 35 per cent in vacancies posted online by UAE employers compared to the same period in 2015. It is said to be a result of low oil prices.
The sectors that recorded the most job slowdown include banking, insurance, financial services and hospitality. Even though, some professionals with certain skills and experience remained in in demand, with hiring for logistics, purchase, and supply chain roles showing a 19 per cent growth. According to Monster.com, these are the only positions that registered an increase in demand in UAE.
The job tracker also stated that year 2017 will be a better for those looking for new jobs in UAE, as businesses look better than before and market conditions have very much stabilised. Besides, more workers are expected to shift jobs which will craete talent gaps for other jobseekers to fill, while two thirds of employers will 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.”
Hays revealed that as many as 55 per cent of workers in the UAE expect moving employers this year, as 55 per cent professionals feel lack of progress in their current organisation.
The employment index indicates that job offers in the financial services, banking and insurance industry posted maximum decline at 39 per cent. Hospitality noted a 37 per cent decline and retail/trade and logistics saw 35 per cent decline.
Education sector (-1 per cent), automotive, production/manufacturing and ancillary (-8 per cent) and paints, chemicals/plastic/rubber, fertilizer/pesticides industries (-8 per cent) recorded a slower decline.
