Job vacancies rise 33% across UAE
- Renewed economic confidence has kick-started hiring appetite
- Financial services, IT and telecoms sectors driving growth
- 113% rise in the number of interviews quarter on quarter
The United Arab Emirates (UAE) has enjoyed a 33% rise in the number of vacancies in Q2 2010 compared to Q1 2010. A 45% rise compared to the same period last year.
A more positive outlook for the region is being reflected by the banking and finance industry hiring again. Ongoing government investment in infrastructure is also resulting in more jobs in fields such as IT and telecoms.
The findings come out of research from the FiveTen Group, the global recruitment firm. It says confidence is returning to the economy across the UAE, as global trade increases and rising oil prices benefit the region.
Business confidence has also been strengthened in the region by continuing progress on the restructuring of the Dubai World debt, allaying concerns that the debt will not be repaid. From negative GDP growth in 2009, the International Monetary Fund has projected growth of 1.3% in 2010 and 3.1% in 2011.
Mark Baxter, Regional Director of the FiveTen Group said: “Dubai has had it tough particularly over the course of the downturn but the outlook for the Emirate and the region as a whole is looking rosier. The property market is still volatile in Dubai but there has been something of a resurgence in the jobs market across the region. Vacancies are rising, and companies with renewed confidence are stepping up their hiring programmes.”
There has also been a 113% rise in the number of interviews taking place this quarter compared to last, as companies invest more resources in their search for employees.
Appointment of Mark Baxter and launch of Ortus in the UAE
The FiveTen Group has appointed Mark Baxter to head up its expanding operations in the Middle East.
Mark Baxter brings with him 13 years of management experience including the last 4 years based in the Middle East, during which he built the BBT business before it was bought by Randstad and merged with Hill McGlynn.
He has previously managed multiple teams across 4 locations in the GCC – in Dubai, Bahrain, Oman and Abu Dhabi. Mark will be reporting to Tim Hedger, Regional Managing Director of the FiveTen Group in the Middle East.
Hedger said: “Mark is a great fit for our operation here and has the hunger that we demand in all of our employees. His background is hard to beat – he brings a wealth of experience and in-depth knowledge of the market in the Middle East. This will prove invaluable as we build FiveTen’s representation in the region, and further sharpen our competitive edge.”
The FiveTen Group has also announced the launch of HR executive search operation, Ortus (www.ortushr.ae) in the region.
Baxter said: “We’ve launched Ortus in the UAE to serve the needs of our clients’ HR departments. The launch means that the FiveTen Group now has representation for all its brands in the Middle East and can serve clients and candidates across our full range of sectors.”
Ortus’ office launch means it joins other FiveTen group brands Marks Sattin, (finance and accountancy recruitment), EMR (marketing), Laurence Simons (legal), and (Greythorn, IT and telecoms) which are already active in the region.
