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January marked the fifth consecutive month of year-on-year growth in online recruitment with +17% across the Middle East, according to the Monster Employment Index Middle East. January was also the fourth consecutive month to report year-on-year double-digit growth.
The Banking, Financial Services, and Insurance (BFSI), Engineering, Construction, and Real Estate sectors reported the strongest year-on-year growth in online recruitment activity in January 2014, compared with a year ago.
Among the seven monitored countries, Qatar exhibited the most growth. On the whole, analysts have portrayed a favourable growth prospect for the GCC countries in 2014. Qatar is expected to continue outperforming the other five GCC states while the 2014 growth forecast for UAE has been raised for the previous forecast of September 2013.
Pricewaterhouse Cooper’s (PwC) annual global CEO survey showed that confidence among CEOs in the Middle East has risen sharply. Around 69% were confident about short-term revenue growth in 2014 and 50% expect to add staff in the next 12 months.
The Monster Employment Index showed improved year-on-year trends in seven of the 13 monitored industry sectors. BFSI reported the most improvement, as it achieved its fourth successive double-digit annual growth, with +37% in January 2014 compared with January 2013. This was followed by Retail, Trade, and Logistics, which grew by +19%, and saw online recruitment activity registering positive growth in month-on-month hiring activity following low levels in the previous two months. Year-on-year the sector recorded a double-digit growth for the first time since November 2013.
Online recruitment activity in the Hospitality sector fell by -3% but registered growth of +3% month-on-month having reported month-on-month declines in November and December 2013.
Oil and Gas was the only sector to report fewer opportunities during January compared with December 2013, with a fall of -2%. Production/Manufacturing, Automotive & Ancillary reported the most notable year-on-year drop of -19% of all industry sectors.
Online job availability improved in five of the seven countries monitored by the Index. Year-on-year, Qatar (+26%) followed by Egypt (+25%) was the most improved of all seven countries monitored by the Index, as the long-term growth gathers pace.
UAE charted the most notable annual decline among countries for the eighth consecutive month. Oman (-1%) and the UAE (-13%) were the only countries to register year-on-year falls in online job availability.
|Country||Annual Change %|
|United Arab Emirates||-13%|
|Middle East Average||+17%|