UAE job market signals rebound with 9.5pc hiring surge in Oct
Job market in the UAE signalled a gradual turnaround with hiring activity returning to pre-pandemic levels at a 9.5 percent year-on-year uptick in October, latest research data from LinkedIn suggests.
The report said despite this improvement, the labour market has not returned to consistent growth and it is unclear whether this will offset the potential global economic impact of a second wave of infections facing many countries.
Ali Matar, head of LinkedIn Emerging Markets, Middle East & Africa (EMEA), said over the past three months there has been an improvement in the UAE hiring rate, although it is unclear whether this will offset the potential global economic impact of a second wave of infections facing many countries.
“Focusing on transferable skills can help open a variety of roles that people may not have previously considered. Skills can be applied to different jobs or industries, creating new employment opportunities. Likewise, investing time in developing new skills, being proactive in your job search and engaging your professional network is key to finding a new job quickly.”
The research shows that demand for digital skills remains strong across the globe with over 150 million jobs expected in the technology sector over the next five years.
LinkedIn’s data also suggests that as countries around the world face a second wave of infections, avoiding a lockdown to preserve the economy doesn’t improve the national hiring picture in the long run. Brazil saw one of the steepest declines in hiring globally, while Sweden’s hiring rate still hasn’t returned to growth and is tracking behind other European countries.
To help people who are looking for new job opportunities, LinkedIn is rolling out the beta version of their Career Explorer tool globally. The Career Explorer dashboard, which will be in English, is an interactive tool created to help people find jobs that match their skills. Using LinkedIn data, job seekers can see how their skills can lead them to new career opportunities, and what additional skills they may need, along with LinkedIn Learning courses that can help fill those gaps.
Sharjah okays fresh dh512m stimulus to combat covid effects
Upon the directives of His Highness Dr Sheikh Sultan bin Muhammad Al Qasimi, Member of the Supreme Council and Ruler of Sharjah, Sheikh Sultan bin Mohammed bin Sultan Al Qasimi, Crown Prince and Deputy Ruler of Sharjah and Chairman of the Sharjah Executive Council (SEC), has approved the second stimulus package of Sharjah government incentives to support government and private entities, business sectors and individuals in order to boost business continuity and development in various fields and mitigate the economic impact of the coronavirus outbreak. The value of the package amounts to Dh512 million, up from the first package’s Dh481 million. These incentives emanate from the SEC’s keenness to enhance the continuity of development in various fields and mitigate the severity of economic and social impacts that the world is witnessing during this critical period.
Sharjah Electricity, Water and Gas Authority
Payment of fees on installments of the electricity, water and natural gas services for owners of economic, commercial and industrial establishments in several installments that may exceed two years, in order to contribute to alleviating the financial burdens facing them. Support for the owners of various establishments by providing free technical consultations before starting the project to design and implement electricity, water and gas services extensions to save the cost of financial expenses. Reduction in insurance fees for electricity, water and natural gas on economic, commercial and industrial establishments. Cancellation of fines for additional electricity loads in economic, commercial and industrial establishments.
Municipalities of the Emirate of Sharjah
Reduction of fees for attesting residential lease contracts from 4 to 2 percent until March 31, 2021
Department of Economic Development
Continuation of the exemption decision for the renewal of licences for economic establishments, including a fee of three months’ annual fees. Deduction (50 percent) from delay fines and inspection violations for economic establishments, provided that their owners amend their conditions within three months from the date of the decision. A 50 percent discount upon issuance of a licence for industrial establishments, in order to enhance the contribution of the industrial sector to GDP. Exemption of private nurseries from all government fees for a year.
DIFC courts wills service to fortify protection for retirees
The attraction of Dubai as one of the region’s top investment and retirement destinations has been boosted by new steps designed to secure foreign investment and protect assets of investors and residents. The Dubai International Financial Centre (DIFC) Courts has signed a cooperation agreement with the Department of Tourism and Commerce Marketing (Dubai Tourism), to support the newly launched ‘Retire in Dubai’ programme. Under the agreement, the DIFC Courts has developed enhanced Wills registration and Probate services at exclusive discounted rates. The services will assist retirees with securing their assets in the UAE, delivering final peace of mind and safe in the knowledge that their wishes will be respected. Omar Al Mheiri, deputy chief justice, DIFC Courts, said the DIFC Courts is honoured to be invited to participate with this programme. We remain confident our existing and unique Wills Service can contribute to the overall value proposition Dubai is presenting under this new scheme for retirees. With over two million expatriates residing in Dubai, the Government of Dubai and the DIFC Courts recognise the vital importance of our innovative service for non-Muslim residents and investors, which provides not only practical assistance with legacy planning, but simultaneously boosts Dubai’s attractiveness as a destination for investment and retirement. Yousuf Lootah, executive director, Tourism Development & Investments, Dubai Tourism, said: “Our Retire in Dubai programme is inspired by the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai to make the city the world’s most preferred lifestyle destination. An essential aspect of ensuring the success of this programme will be the continued stakeholder engagement and wide-ranging cooperation extended by our partners. This agreement with the Dubai International Financial Centre Courts will further enhance Dubai’s position as a retiree-friendly destination, as it will contribute towards the support system that will be available for the retirees. The Wills Service provided by the DIFC Courts will be part of the extensive package of benefits and world-class services that retirees in Dubai can access under our global retirement programme, ensuring that they are able to enjoy an active stress-free retirement lifestyle in Dubai while leaving the key elements of planning their retirement in the hands of the experts.”
Sharjah department of civil aviation signs contract with Serco
The agreement will contribute to increase the percentage of Emiratisation at Sharjah Airport with targets of a 47 percent Emirati workforce by 2025. The Department of Civil Aviation, Sharjah, has awarded Serco Middle East, a five-year contract for the delivery of air navigation services at Sharjah Airport, effective until February 28, 2025 after it won the tender launched early this year. The contract was signed at the main building of Department of Civil Aviation & Sharjah Airport Authority by Sheikh Khalid Isam Al Qassimi, Chairman of the Department of Civil Aviation, Sharjah, and Phil Malem, CEO, Serco Middle East, in the presence of Sheikh Sultan bin Abdullah Al Thani, director of Department of Civil Aviation and Jakobus Andre Fourie, con-tract manager, Serco ME. The agreement will contribute to increase the percentage of Emiratisation at Sharjah Airport with targets of a 47 percent Emirati workforce by 2025, and continually upgrade and strengthen the service level at Sharjah Airport, while also ensuring an excellent operational efficiency and continuity of the service in accordance with the latest technologies and international standards as part of its ambi-tious growth plan. H.E. Sheikh Khalid Isam Al Qassimi, Chairman of the Department of Civil Aviation, Shar-jah, said: “First of all, we congratulate Serco Middle East for winning the tender. Our long busi-ness relationship with Serco stems from the confidence the company enjoys in the field of air navi-gation services and the achievements we have made together in the past years. Our collaboration with Serco will ensure smooth aircraft movements as well as full compliance to matters of safety at the airport, especially during aircraft landing and takeoff. We are continuing our efforts to offer world-class services to our customers and stakeholders. In addition to enhancing our human re-sources and technical capacities”. Phil Malem, CEO, Serco Middle East, said: “We are very proud to contribute to the growth of the aviation business in Sharjah. The Sharjah DCA and Serco have worked collaboratively for over 70 years to deliver best in-class air navigation services (ANS) to Sharjah International Airport, and it’s been a privilege to support the airport as it grows. The signing of this agreement with The De-partment of Civil Aviation, Sharjah is testament to the longstanding trust we share with our partner and also showcases our commitment to develop the aviation sector in line with international stand-ards. We’re committed to furthering the country’s nationalisation agenda, and our focus on provid-ing best-in-class training, will help fuel the growth of the airport, by putting people at the heart of the journey.”
UAE output growth weakens as job shedding continues
Business conditions in the UAE non-oil private sector economy worsened for the second time in three months in October, indicating a further stalling in the economic recovery from the coronavirus pandemic, according to the UAE PMI released by IHS Markit on Tuesday.
It said new business declined for the first time since May, leading to a slower rise in output and a sharp reduction in backlog volumes. With capacity pressures remaining weak, and expectations down to a joint-record low, workforce numbers were trimmed again across the sector.
The headline seasonally adjusted IHS Markit UAE Purchasing Managers’ Index (PMI)– a composite indicator designed to give an accurate overview of operating conditions in the non-oil private sector economy – fell to 49.5, down from 51.0 in September. The reading marked the second deterioration in business conditions in three months.
“While the decline was mild, it nonetheless showed a stalling of growth momentum after the Covid-19 lockdown. Notably, sentiment amongst businesses towards the 12-month outlook was at a joint-record low as firms remained concerned that the pandemic could further hurt activity and spending,” said David Owen, economist at IHS Markit.
“Firms are notably concerned that costs will outstrip revenues, leading to a further cut to payroll numbers and a sharper fall in inventories amid efforts to free-up liquidity. On a positive note, cost inflation remains weak, in fact easing slightly on the month. This should reduce pressure on margins as selling prices continue to be lowered due to efforts to drum up sales, ” he said.
A key result in the October data was a first – albeit marginal – decline in new business in five months. Surveyed firms noted that increased competition and a slow improvement in market activity led to weaker sales volumes over the month.
In addition, with the pandemic accelerating in some regions, export growth remained mild, although there were some reports of new business wins from GCC countries.
While UAE companies continued to increase output levels, the rate of expansion slowed to just a modest pace in October. Nevertheless, they were still able to lower backlogs, and did so to the greatest degree since November 2011.
With the demand falling and firms able to reduce work outstanding, latest data pointed to a further decline in workforce numbers at the start of the fourth quarter.
Companies raised their quantities of purchases solidly in October, in line with increased output requirements. Notably though, lead times on purchases lengthened for the first time since supply chains were negatively impacted by the global lockdown in May. That said, vendor performance deteriorated only slightly overall.