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Hiring in UAE to go up by 10 to 15% in 2019
December 27, 2018
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Dubai: Opportunities for jobseekers in the UAE are likely to improve in the coming year, with companies expected to increase their headcounts over the next few months in 2019.

According to the recently released Cooper Fitch 2019 Salary Guide, hiring in the UAE will likely increase by 10 to 15 per cent next year.

Trefor Murphy of Cooper Fitch said that oil prices are likely to remain steady in 2019 and that the gross domestic product (GDP) will be approximately 4 per cent, although there are expectations that the figure could go as high as five to six per cent.

Cooper Fitch reported that the biggest challenge faced by organisations in 2018 was the retention of their top performing teams and individuals. Moreover, in the unfortunate event where someone loses the job, the period required to find a new vocation has become longer.

The previous years’ reduction in oil prices has caused companies to lose confidence in the market which in some cases has made them hesitant about making key hires. Reduction in the retail and luxury retail sectors was also noted in 2018. Moreover, consumer confidence in the markets is also expected to further strengthen in 2019.

As per the guide, an improvement in employment positions for next year, compared to the previous years, is also imminent, following significant restructuring in many organisations, particularly in the banking sector.

“With the continual drive to the Emirates’ Vision 2021, we see the need for improvements in economic reforms,” said Murphy, adding, “At the moment, oil contributes to around 35 per cent of the UAE government revenues. As 2021 approaches, we see the Emirates focusing on human capital to support its diversification and generate better revenue."

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