Employers in the construction, finance and hospitality sectors are starting to hire again according to the employment website Monster Gulf. Sammy Dallal / The National
The Gulf job market is showing the first signs of recovery after being battered by months of redundancies, according to one of the region’s biggest employment sites.
Employers in the construction, finance and hospitality sectors are starting to hire again with the number of job listings posted on the Monster Gulf website rising by 18 per cent in June compared with a month earlier.
“If you look at the job postings, it clearly indicates the market is recovering,” said Sanjay Modi, the managing director for India, Middle East and South East Asia of Monster Gulf, part of the world’s largest online recruitment site.
“The up trend is clearly visible since the last three months. Job postings in the construction sector in the UAE alone have risen by 20 per cent, while there has been a 13 per cent increase in the job listings posted by construction contractors in Saudi Arabia in June.”
The regional hospitality and banking and finance sectors saw 8 per cent and 5 per cent rises in the number of job listings respectively, data from Monster Gulf shows.
Gulf employers have shed thousands of jobs this year as the global downturn ended a regional economic boom that drew expatriate workers from around the globe.
The UAE has attracted large numbers of foreign workers needed for a six-year property boom that came to a halt last autumn when house prices tumbled and many people were forced to flee the country leaving unpaid bills.
