Professional job opportunities across the United Arab Emirates increased by 8% between February 2014 and March 2014, according to a new survey by global recruitment specialist Morgan McKinley.
UAE Employment Monitor Highlights
- Professional job vacancies rose by 8% between February 2014 and March 2014.
- Between March 2013 and March 2014, there was a 2% increase in roles.
- The number of professional jobseekers increased 16% from February 2014 to March 2014.
- Year-on-year, the number of professionals looking for work increased by 7%.
Hiring market picks up in February following slow start
Following a buoyant February, when the professional jobs market ramped up again after the New Year break, March’s UAE Employment Monitor recorded an 8% month-on-month rise in available positions across the region – from 2,238 to 2,417 professional roles. Compared to the same period last year, vacancies are also up, from 2,280 recorded in March 2013.
Candidates actively seeking professional opportunities numbered 13,152 in March 2014, up from 11,366 in February 2014 – a 16% increase month-on-month. Year-on-year data also shows a jump from March 2013, when 12,268 professionals were active in the jobs market.
Trefor Murphy, Managing Director, Morgan McKinley UAE commented:
“As has been reported in the press in recent weeks, the UAE’s economy continues on an upward trajectory. This is in keeping with the latest purchasing managers' index from HSBC and Markit which reveals that the UAE’s non-oil private sector expanded rapidly in March as new orders rose and companies increased hiring. This, in turn, has had a knock on effect on the professional employment market, as reflected in our healthy figures this month.
“The rise in professional opportunities has been driven by a number of key sectors. The construction market has expanded once again as projects that were stalled in the first two months of the year kicked off. Consequently, architects, project managers, and quantity surveyors have been in strong demand. As previously highlighted this is due to a renewed focus on projects as Dubai prepares for the Expo 2020. As a result we expect demand in this area to continue for the foreseeable future.
“The Expo 2020 win has also had a positive impact on Dubai’s property market. The latest Dubai Real Estate Overview, for example, reveals that prices abruptly leapt by an average of 20% post the Expo 2020 win. Whilst the residential sector is leading this growth, we have also seen a notable increase in demand for professionals within the commercial sector. This mirrors reports from the Dubai Land Department that the country’s office market sustained its recovery with occupancy rates and prices increasing in the first three months of the year.
“The banking sector has also remained exceptionally strong throughout March which is in line with reports that the Dubai Financial Market General Index surged 32% in quarter one 2014. This growth is expected to have a knock on effect on hiring as we progress through the year. In the same vein the finance, supply chain and procurement sectors all continue to do well, which is reflective of the huge number of businesses going through periods of restructure to increase productivity levels.
“Another key trend we are noting is the growing war for talent in Dubai. Whilst our data points to a 16% increase in jobseekers month-on-month, employers are still struggling to find candidates with the requisite skills and experience in some key areas. This can be attributed to impressive growth in neighbouring countries – Qatar, Saudi Arabia and Oman, for example – which is enticing jobseekers from Dubai. We are also seeing increased confidence amongst candidates, which in turn is prompting many to seek new positions to further their career prospects.”
Morgan McKinley UAE Employment Monitor
Morgan McKinley launched its first UAE Employment Monitor providing quarterly data on new professional job availability and on professional job seeker availability. The figures in this press release are derived from Morgan McKinley’s own internal data from jobs released by employers and professionals registering in conjunction with market share figures and knowledge of the market.
The UAE Employment Monitor reports only on professional jobs across sectors where Morgan McKinley operates in the region including: banking & financial services; construction & energy; engineering; oil & gas; accounting & finance; media, advertising & creative; logistics & supply chain; PR & corporate communications; sales & marketing and office administration.
About Morgan McKinley
Morgan McKinley is a global professional services recruiter connecting specialist talent with leading employers across multiple industries and disciplines. With offices across Ireland, the UK, EMEA, Asia and Australia, Morgan McKinley is a preferred supplier to many of the major employers in its specialist sectors and thousands of smaller local firms.
Morgan McKinley UAE provides specialist recruitment services across the UAE and wider Middle East region, working with over 200 companies delivering local knowledge as well as global reach.