May 2016 Index Highlights

Monster Employment Index for the Middle East plummets further in May 2016: The year-on-year growth rate eases from a negative four percent in April 2016 to a negative 17 percent in May 2016.

Month-on-month, the Monster Employment Index registers an eight percent drop in e-recruitment activity in the Middle East

Year-on-year, Bahrain and UAE record the steepest rise in employment opportunities; up by nine percent

Health care is the most in-demand job role in UAE

Dubai, 22 June, 2016 - Although e-recruitment activity in the GCC as a whole continues to grow at a diminishing rate, the Monster Employment Index (MEI) registered the steepest rise in employment opportunities in the UAE together with Bahrain; up at nine percent in May 2016 as compared to the corresponding period a year ago.

"Slow global economic recovery, cheap oil and regional instability have adversely hit the GCC economic and business confidence; while Bahrain and UAE continue to exhibit growth in hiring at a moderate pace, e-recruitment activity in the region slipped 17 percent below the corresponding period a year-ago," said Sanjay Modi, Managing Director - APAC and Middle East, Monster.com. "With the domestic news agenda being dominated by austerity measures and the introduction of VAT, we expect 2016 to be a challenging year for the UAE as well. Under the current scenario, 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, while shifting energy production towards solar power and other alternative resources."

According to a recent report by the professional services firm, Ernst & Young (EY), greater union between the six GCC member states Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE could, potentially, maximize growth opportunities in the region, with trigger effect on the UAE. While the report does not suggest a monetary or fiscal union, it does see great potential in removing the remaining barriers to intra-regional trade, doing away with 'lengthy border checks and a lack of regulatory alignment'. Harmonizing regulations while creating a single market through more economic integration could indeed increase foreign investment flows to the GCC as a whole and consequently boost efficiency and promote growth and current diversification efforts in the long-term.  

In the UAE this month, Healthcare is leading the industry growth charts, with a 34 percent growth in online job posts year-on-year. At the same time, Health care is also the most in-demand job role, growing at 35 percent.

The second best performing industry in the UAE is Consumer Goods/FMCG, Food & Packaged Food, Home Appliance, Garments/Textiles/Leather, Gems & Jewellery, with 29 percent growth in online job posts. Although registering one of the steepest declines among the industry sectors monitored by the Index, Retail/Trade and Logistics follows with a growth of 28 percent in job opportunities posted online year on year to May 2016.

The outlook is the gloomy for BFSI, with the industry exhibiting a negative drop of 12 percent; while Hospitality sector plunges the most, with online recruitment activity registering a negative 32 percent growth in May 2016 as compared to the previous year.

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© Press Release 2016