Morgan McKinley UAE Employment Monitor
Professional job opportunities across the United Arab Emirates increased by 15% between Q3 2012 and Q3 2013 according to a new survey by global recruitment specialist Morgan McKinley.
UAE Employment Monitor Highlights
- Professional job vacancies rose by 15% between Q3 2012 to Q3 2013.
- Between Q2 2013 and Q3 2013, there was a 2% increase in roles.
- The number of professional jobseekers rose by 9% between Q2 2013 to Q3 2013.
- Year-on-year, the number of professionals looking for workincreased by 19%.
Hiring market improves
Recruitment activity in the professional jobs market increased by 2% from 6,310 vacancies in Q2 to 6,458 in Q3.This represents a 15% rise when compared to Q3 2012 when vacancy levels stood at 5,611.
Professionals looking for new positions in Q3 2013 totalled 35,790. This represents a 9% increase on the 32,760 that were seeking work in Q2, and a 19% (round up to 20% as it’s 19.6%) rise on the 29,901 jobseekers who were searching for new job opportunities in Q3 2012.
Trefor Murphy, Managing Director, Morgan McKinley UAE commented:
“The UAE economy continues to grow at a steady pace which is very much reflected in the local stock markets which continue to perform well. The Dubai Financial Market stock exchange is up 75% over the past year and the largest Arab stock market, in Saudi Arabia, has risen by a third over the past two years. This positivity has prompted banks to foster a more competitive lending environment and organisations across the region are taking advantage of this confidence.
“As we highlighted in the last report, the construction industry continues to grow, with significant building projects due to begin in the coming months thanks to international investment from the UK, Russia, India and East Asia. The strong recovery of Dubai’s real estate sector was particularly evident at the recent Cityscape Global conference, where investors scrambled to snap up units as new development plans were showcased.
“This positive sentiment has also created solid demand for business analysts and M&A specialists across every area of business as organisations look to put in place fresh investment strategies post-recession as they plan for next year. Entrepreneurial dealmakers who have had experience working in more established markets such as London, New York and Hong Kong are particularly sought after. As we move into 2014 and beyond, we expect to see this activity continue as companies persist in seeking out the most profitable avenues for growth.
“In the same vein, we have also noted an increase in demand for procurement specialists with strong international backgrounds who are able to implement sophisticated systems and processes to provide greater value for money. As a result, more employers than ever before are looking at investing in driving profit through procurement.”
The next Morgan McKinley UAE Employment Monitor will be released following the end of Q4.