Job creation across the sectors of Gulf Cooperation Council (GCC) region continued to slow down in May 2016 due to the tightening of labour market conditions amid a low oil price environment and global economic uncertainty. Meanwhile many companies are looking to create employment opportunities across the industries. As compared with previous year employment generation was better this year, while UAE and Bahrain emerged as the top generator of jobs in the region.
Experts believe that the year 2016 to be a challenging year for the UAE and other aparts of the region. Slow global economic recovery, cheap oil and regional instability have adversely hit the GCC economic and business confidence. While firms across oil and gas posted slow growth and hospitality sector registered a biggest decline in May 2016. On the flip side health sector continued to lead the charge in job creation in the UAE.
Companies across the sectors health care, consumer goods, FMCG are also aggressively posted jobs this year as compared to previous year. Firms in the home appliance, garments, textiles, gems &jewellery, retail/trade and logistics are considered to be the top growth industries in UAE and showed a big appetite for recruitment. Sectors like BFSI, oil&gas and hospitality saw lowest growth in UAE.
Career experts expect that 2016 to be a challenging year by austerity measures and the introduction of VAT. Companies across the country, including government agencies, will have to establish a new order for promoting growth in the UAE and change their spending habits. Sectors like banking, financial services and insurance are facing hardship where online recruitment dropped by 12 per cent in May 2016 to May 2015.
Professionals in demand are healthcare professionals, as well as those with qualifications and experience in sales and business development and engineering and production. If you want to seek challenging role in finance and accounting, marketing and communications/arts/creative and customer service would be difficult now.