Compared to the first quarter, job vacancies increased 33 per cent in the second quarter of 2010, said a study conducted by the FiveTen Group, a global recruitment firm.
“A more positive outlook for the region is being reflected by the banking and finance industry hiring again. Ongoing government investment in infrastructure is also resulting in more jobs in fields such as IT and telecoms,” the report said.
Confidence is returning to the economy across the UAE, as global trade increases and rising oil prices benefit the region, it said.
Business confidence has also been strengthened in the region by continuing progress on the restructuring of the Dubai World debt, allaying concerns that the debt will not be repaid, the study said. From negative GDP growth in 2009, the International Monetary Fund has projected growth of 1.3 per cent in 2010 and 3.1 per cent in 2011.
“Dubai has had it tough particularly over the course of the downturn but the outlook for the Emirate and the region as a whole is looking rosier,” said Mark Baxter, regional director of the FiveTen Group.
Baxter has been appointed to head up FiveTen Group’s expanding operation sin the Middle East.
“The property market is still volatile in Dubai but there has been something of a resurgence in the jobs market across the region. Vacancies are rising, and companies with renewed confidence are stepping up their hiring programmes,” he said.
There has also been a 113 per cent rise in the number of interviews taking place this quarter compared to last, as companies invest more resources in their search for employees, the study said.
Mark Baxter brings with him 13 years of management experience including the last 4 years based in the Middle East, during which he built the BBT business before it was bought by Randstad and merged with Hill McGlynn.
Mark will be reporting to Tim Hedger, regional managing director of the FiveTen Group in the Middle East.
“Mark is a great fit for our operation here and has the hunger that we demand in all of our employees. His background is hard to beat — he brings a wealth of experience and in-depth knowledge of the market in the Middle East,” said Hedger.
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