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Wed 29 Jan 2020 01:54 PM

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UAE labour market ranked most resilient in the Arab world

UAE has climbed 12 places on the Global Labour Resilience Index's overall rating over the past five years, up from 33rd in 2015

UAE labour market ranked most resilient in the Arab world
(Photo for illustrative purposes only)

The UAE has been ranked first in the Arab world and 21st globally on the Global Labour Resilience Index 2020.

The UAE has climbed 12 places on the index’s overall rating over the past five years, up from 33 in 2015, and it is the only GCC country to rank among the top 30 countries this year. Bahrain is the nearest Gulf nation to the UAE and ranked 15 places below in 36th.

The Global Labour Resilience Index measures the level of future unemployment risks that countries face based on geographical disparities, structural shifts, policy and technology changes and ranks a total of 145 economies.

The index was led by Whiteshield Partners, a London-based consultancy firm in cooperation with the Oxford University Saïd Business School, ManpowerGroup, and the UK Institute for the Future of Work.

Sultan bin Saeed Al Mansoori, UAE Minister of Economy, said: "The UAE’s achievements on the Global Labour Resilience Index 2020 is a testament to the national economy as it has made great strides in enhancing its economic potential in the digital age and improving its ability to confront the widespread economic changes at international level.

"This includes the ability to keep pace with progress in economic complexity, and adopting a knowledge economy model that focuses on the know-how needed to produce goods and services, diversify exports, increase the diversification of the economic base and reduce dependence on oil.”

Switzerland ranked first globally on the index, followed by Singapore in second and the United States in third. Denmark, the Netherlands, Sweden and Germany finished fourth, fifth, sixth and seventh respectively while Finland ranked eighth, and the United Kingdom and Belgium completed the top 10.

The index comes as the global unemployment rate has decreased from 5.2 percent to 4.9 percent.

According to the report, Nepal, Lebanon, Tunisia and Egypt were among the five worst ranked countries.

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