Lookout for jobs: Opportunities rising in UAE
Jobs openings for professionals in the UAE may not be piling up as in the pre-global slowdown era, but the labour market is definitely seeing a consistent growth and reporting decent increase in the number of new jobs that are being added ? a healthy sign that many believe is a precursor to the November results of the Expo 2020.
According to the latest Morgan McKinley UAE employment monitor, professional job opportunities in the UAE have increased by 6 per cent between Q2 2012 and Q2 2013.
Not reminiscent of the boom years but the job market is finally showing the right signs. ?For professional jobs, the UAE remains an employers? market. But for the first time in four or five years, hiring managers are looking externally to source the best talent and this positive outlook is certainly filtering down to jobseekers,? noted Trefor Murphy, Managing Director, Morgan McKinley UAE.
Recruitment activity in the professional jobs market increased by 2 per cent between Q1 2013 and Q2 2013 ? there were 6,189 jobs recorded in Q1 and 6,310 in Q2. This represents a 6 per cent rise when compared to Q2 2012 when vacancy levels stood at 5,861, says the survey.
Professionals looking for new positions in Q2 2013 totalled 32,760. This represents a 3 per cent increase on the 31,898 that were seeking work in Q1, and an 18 per cent rise on the 27,790 jobseekers who were searching for new job opportunities in Q2 2012.
As financial institutions begin to invest in infrastructure at levels last seen in 2008, the UAE?s ?building boom? is having a positive effect on employment levels within the construction sector, as well as the industries that supply it.
?As borrowing costs fall and international liquidity rushes back, Dubai in particular has witnessed the revival of development projects that were shelved during the financial crisis such as the expansion of the Business Bay Canal,? said Trefor Murphy, Managing Director, Morgan McKinley UAE.
?In fact, last year the UAE ousted Saudi Arabia as the biggest construction market in the Gulf with $16.2bn worth of contracts awarded in 2012, 4 per cent more than the oil-rich kingdom. This has created demand for architects, surveyors, civil engineers and project managers. And as demand for both commercial and domestic property continues to climb, I don?t anticipate this trend reversing,? he added.
The good news is that a lot of hiring is taking place from the locally available talent pool. As companies need to adhere to their Emiratisation quota many of them are filling in slots to stick to the guidelines, which is increasing job opportunities for graduates who are UAE nationals.
?Where roles do not require Arabic, however, it can be more challenging for employers to factor this legislation into their hiring decisions. This is an area where we have been providing assistance to many of our clients,? Murphy added.
The increase in professionals open to moving job roles is a result of generally improved confidence across the region, with GDP growth at 4 per cent and projected to rise to 6 per cent in 2014.
?We don?t expect to see any significant fall in the number of available jobs over Q3, but the market is likely to become steadier as business confidence and renewed investment continue to gradually climb.?
The quarterly report tracks professional vacancies, jobseekers and average salaries across the UAE.
However, the June 2013 Monster Employment Index Middle East showed a lackluster job market in the country. It said the country?s labour market remained rather lull in June of 2013 when compared to the same time the year before. Overall, the country witnessed a 31 per cent annual decline but healthcare showed positive growth, whereas hospitality and education sector performed better than most other sectors.
The healthcare scored the most in both the categories – top growth industries and top growth occupations that is monitored by the Index. In the former category, it was up 8 per cent, recording the highest annual growth and showed a growth of 7 per cent in annual growth amongst the occupation groups.
Next on the list of UAE?s top growth industries were hospitality and education with a 2 and 3 per cent decline respectively.
In the top growth occupations list, hospitality and travel (-4 per cent) and HR & Admin (-9 per cent) came after healthcare.