- The Monster Employment Index registers a higher year-on-year regional growth percentage this month (up 16 percent) as compared to October 2015 (14 percent). Nevertheless, the annual growth rate continues to hover below that registered in Q2 and Q3 2015.
- IT and Telecom/ISP lead all industry groups by the way of long-term growth in the Middle East followed by HealthCare.
- Oil and Gas records the steepest decline year-on-year in the Middle East.
- Customer service professionals witness the steepest growth in demand in the Middle East.
- Kuwait and UAE are the top employment generating countries on a year-on-year basis.
The Monster Employment Index is a monthly gauge of online job posting activity in Middle-East based on a real-time review of tens of thousands of employer job opportunities culled from a large representative selection of career Web sites and online job listings. The Index does not reflect the trend of any one advertiser or source, but is an aggregate measure of the change in job listings across the industry.
“GCC economy growth has slowed down due to the low oil price environment, which has adversely affected growth in the non-oil sectors as well. The job market has not been spared either, as revealed by the Monster Employment Index. The year-on-year growth this month has eased considerably as compared to Q2 and Q3 2015, with the Oil and Gas sector continuing to exhibit the steepest decline in job demand. We expect the slowdown in job demand to continue, in line with the International Monetary Fund’s (IMF) regional economic outlook for the Middle East and Central Asia, which has projected further slowdown in GCC economic growth for the short-term,” said Sanjay Modi, Managing Director, Monster.com
“In spite of the general slowdown in the job market, the Middle East is witnessing a rising need in serving the GCC Healthcare sector. Looking at the November 2015 data for professionals working in this field, job opportunities continue to soar reaching 36 percent year-on-year growth, in addition to the industry itself recording a 20 percent year-on-year growth in terms of job posting.
This trend is reflected particularly in the UAE, with the Healthcare sector leading the year-on-year top growth charts with a 60 percent increase. According to a Dubai Health Authority official, Dubai anticipates to welcome more than 500,000 medical tourists by 2020 and generate Dh2.6 billion in revenue, marking a 20 per cent growth over 2015. In addition, Dubai Health Care City (DHCC), the world’s largest healthcare free zone, is expanding to include the Nashami project, which will feature 3.3 million square feet of rehabilitation facilities, retail stores, as well as hospitality and leisure facilities. It is expected to receive 20,000 people,” continued Modi.