News

Residents don't foresee increase in jobs: survey

By Shuchita Kapur Published: 2011-10-09T08:29:00+04:00

Even though a majority of residents see an improvement in the economy, not many agree if this will translate to an increase in the number of jobs in the market, according to quarterly Mena Consumer Confidence Index survey by Bayt.com.

The findings of the online portal show that 46 per cent of UAE respondents expect that the country’s economy will get better within the same time frame.

However, this claim won’t essentially mean an increase in the number of jobs. Only 35% of UAE respondents think there will be more jobs available in a year’s time, while 51% feel there will be either no change or fewer jobs.

In the coming quarter, the survey participants are not hopeful if their companies will increase the headcount – with 26% pessimistic and another 36% holding a neutral outlook on the same. However, 21% feel there will be positive growth and their companies will add new people.

On the other side of the spectrum, companies addressing staffing requirements in the coming three months show that 38% of UAE survey takers are neutral, with 18% who seem optimistic and less than one-third (28%) appear quite pessimistic.

As of now, 39% of the respondents feel their present situation in the UAE remains unchanged and another 29% believe that their financial situation is worse.

Minority (26%) believe that things have taken a positive turn and financial position is in a better state as compared to the previous year.

According to experts in leading recruitment companies, recruitment activity in the UAE witnessed an improvement in the first half of 2011 as compared to the same period over last year.

Various estimates by headhunters show that jobs increased between 5 to 15 per cent in the country in the first half of the year.

However, residents are reporting of negative sentiments as the global economy seems to be heading for another recession.

According to a recent Emirates 24|7, majority of UAE employees are not sure about their job stability as economic events in the euro zone get murkier.