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23 April 2024

Looking for UAE job? Sectors with most opportunities

By Shuchita Kapur

There was a time not long ago when bankers were shy of calling themselves so in public, referring themselves as ‘working in the financial sector’ or something similar. Not without reason, as mounting job losses globally and crumbling European economies were blamed squarely on investment bankers’ greed and their firm belief in the collective righteousness of market forces.

Nevertheless, bankers are back in favour and those in the industry are once again proud to proclaim themselves as one, and job opportunities in the sector are surging, including in the UAE.

According to the latest Monster Employment Index for the Middle East, banking, financial services and insurance sector registered the maximum number of job opportunities available online in the UAE.

The index shows that BFSI (banking, financial services and insurance sector) led all sectors year-on-year, registering a 9 per cent growth in available job opportunities.

On the other hand, IT and telecom/ISP sector registered the steepest decline with a 21 per cent dip in jobs available. Purchase/logistics /supply chain professionals continued to chart the maximum annual improvement in demand, year-on-year.

For the Middle East, the index shows a rise of 15 per cent between March 2013 and 2014. Retail/trade and logistics followed by BFSI in the region saw the most notable growth in online recruitment activity from the year-ago.

Online hiring eased the most in the oil and gas sector and year-on-year online demand improved the most in case of marketing & communications/arts and creative professionals even in the month of March 2014.

Of the six GCC countries and Egypt that the Index monitors, Egypt exhibited the most notable growth between March 2013 and 2014 (up 28 per cent) and Kuwait was up 21 per cent to lead all monitored countries by the way of long-term growth.

Bahrain (up 2 per cent) saw a positive growth in annual recruitment activity following low level in February 2014 and also the most notable month-on-month growth. The index reading moved closer to November and December 2013 levels.

KSA was down 14 per cent and exhibited negative annual growth for the second month in succession. UAE (down 16 per cent) also recorded a negative growth for the thirteenth month, and this was also the steepest annual decline among all the countries monitored.

“Monster Employment Index Middle East has charted an average annual growth of 14 per cent since September 2013. Retail/trade and logistics; and BFSI have been some of the most steadily growing sectors. This month we observe significant growth in the hospitality sector as well, while the oil and gas sector has been the most restrained as far as growth in online hiring is concerned. Meanwhile, strong growth is predicted in hospitality and retail sectors.” said Sanjay Modi, Managing Director, Monster.com (India/ Middle- East/ South East Asia).

(Home page image courtesy Shutterstock)