62% of UAE firms set to start hiring in Q2

More than half of UAE firms are back on the hiring track after months on the sidelines, according to a report released Monday, lifting hopes that the Gulf may have seen the worst of the economic crisis.

Some 51 percent of firms are currently hiring at a managerial level, with 62 percent reporting that they expect to begin hiring in the second quarter, found the report from recruitment specialist Antal International.

This is broadly in line with the global average, which showed 53 percent of firms were currently hiring, and 55 percent planned to recruit in the coming quarter.

“Despite the well-publicised economic pains of Dubai, the region as a whole seems to be holding up well with hiring levels rising from 46 percent in September to 51 percent now,” the report noted.

“Confidence is future is also gathering strength with 62 percent of businesses expecting to hire…in comparison to only 49 percent in September.”

The percentage of UAE firms still making job cuts has shrunk from 30 percent in September to 24 percent, the report showed.

However, a cluster of firms are still feeling the chill of the recession with 23 percent of firms admitting they expect to make job cuts in the second quarter – a rise of one percent on September’s figures.

Antal International polled 6,151 firms across 30 countries between December and January 2010.

Globally, the Asia-Pacific region posted the highest level of hiring activity with 62 percent of firms reporting active recruitment.

The Americas and Europe, the epicenters of the global financial crash, lagged well behind this at 53 and 50 percent respectively.

Emerging economics India, China and Russia took the top spot with 71 percent of firms reporting active hiring trends.

“Although a few countries are still seeing a decline in the employment market, the global picture has definitely improved once again,” said Tony Goodwin, global CEO of Antal.

“We are most certainly not out of the woods as yet… but it does seem as if organisations of all sizes are approaching 2010 with more confidence than would have seemed possible in January 2009.”

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