Font Size

- Aa +

Sat 2 Apr 2016 06:09 PM

Font Size

- Aa +

UAE forecast to see new jobs boom despite oil price slump

New survey says jobs market looks positive but with a lower expectation of increments for the workforce

UAE forecast to see new jobs boom despite oil price slump

More than 50 percent of recruiters in the UAE are predicting that new jobs will be created in the next six months despite lower oil prices and trading revenues, according to a new survey by Naukrigulf.

Its latest hiring outlook was slightly down on its September survey when 53 percent of recruiters predicted the same about second half of 2015.

The survey also said that while there is a strong expectation of new jobs creation in the UAE, 64 percent of recruiters predicted that the talent crunch will continue in the next six months.

The results indicates that recruiters face maximum talent crunch when they hire for middle management levels and people of Asian origin.

The outlook also said that low single-digit pay hikes are on the radar for most of the workforce in the UAE this year after 78 percent of employers gave out single digit increments for 2015.

Tarun Aggarwal, business head - Naukrigulf.com, said: "The outlook for the UAE's job market is seeing a shift in expectation of new jobs creation in spite of the slump feared due to lower oil and trading revenues.

"With demand for specialist occupation outweighing supply, we are witnessing an increased talent shortage for recruiters which is expected to continue in the next six months. Overall, the job market looks positive but with a lower expectation of increments for the workforce."

The survey also said that with growing numbers of employees not moving out to explore other opportunities, attrition levels in UAE are low.

For the first half of 2016, 54 percent of employers said that they are enjoying single digit attrition rates and an increased number (63 percent) of recruiters are expecting attrition levels to remain stable or reduce over the next six months.