Professional job opportunities across the United Arab Emirates increased by 21% between Q1 2014 and Q2 2014, according to a new survey by global recruitment specialist Morgan McKinley.
UAE Employment Monitor Highlights
* Professional job vacancies rose by 21% between Q1 and Q2 2014
* Between Q2 2013 and Q2 2014, there was a 5% increase in roles
* The number of professional jobseekers rose by 30% between Q1 and Q2 of 2014
* Year-on-year, the number of professionals looking for work increased by 12%
Jobs growth begins to accelerate in quarter two
Recruitment activity in the professional jobs market increased by 21% from 6,653 vacancies in Q1 to 8,057 in Q2.This represents a 5% rise when compared to Q2 2013.
Professionals looking for new positions in Q2 2014 totalled 45,575. This represents a 30% increase on the 35,138 that were seeking work in Q1, and a 12% rise on the jobseekers who were searching for new job opportunities in Q2 2013.
Trefor Murphy, Managing Director, Morgan McKinley UAE commented:
“In our latest UAE Employment Monitor we can reveal that job figures continue to rise, both in terms of those seeking employment and positions available, as the region continues to move away from recession. This is consistent with recent data from the Dubai Statistics Centre which revealed that Dubai’s economy grew at a faster rate last year than at any time since 2007. Moreover, Q2 is always a significant time for hiring in the region, especially this year with Ramadan beginning in late June and companies pre-planning for the summer slowdown.
“In terms of specific areas where recruitment is buoyant, last quarter we reported the continuing growth of the construction sector, and in Q2 this shows no sign of slowing, particularly in the light of recent plans to build Dubai’s Mall of the World, a 48 million square feet shopping centre which will be four times as big as Europe’s biggest mall. However, the jobs growth is not solely limited to construction, as the manufacturing, banking and tourism sectors are also continuing to expand, representing more of a sustainable mix for the future.
“With regards to candidates actively seeking roles in the UAE, 30% represents a considerable rise. This is partly down to the newfound confidence that employees are feeling now that the recovering economy is beginning to offer more opportunities. Having survived the tougher times and gained some experience, candidates are now increasingly looking for new challenges. However, although it is positive to see recruitment on the rise, we are also noting a trend of supply outweighing demand in many areas, with a large number of people moving to the UAE, particularly from the UK and Ireland, without a real career plan and lacking the appropriate expertise required by companies here.
“And finally, in terms of skills needed, hiring trends throughout quarter two have been consistent with the findings of our last UAE Employment Monitor. There continues to be strong growth in supply chain management, as well as for construction industry professionals specialising in procurement. The consumer goods and FMCG industries are also continuing to expand, leading to demand in the areas of both manufacturing and distribution. Banking recruitment also remains busy, particularly in the regulatory space. Last quarter we reported on the floating of Marka, which was the first IPO on Dubai’s main stock exchange in five years. However, while we anticipated that this would lead to more IPOs and a positive impact on operational roles in the banking sector, this is yet to occur due to the fragile markets. However, heading into Q3 we expect this situation to improve, particularly given the appetite for investment.”