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Bahrain Financial Sector Sees 1.5% Rise in Employment

Bahrain : 03 March 2011

There was a 1.5 percent increase in financial sector jobs in Bahrain last year. In total, 14,342 residents were employed at the close of last year, compared to only 14,137 at the close of 2009, according to a report.

The number of workers in Bahrain’s financial service economic sector climbed to 9,467 last year, up by 154 over the 2009 total based on a survey done by CBB (or Central Bank of Bahrain).

Non-banking financial firms were actually the driving force in job creation, including money brokers and changers, financing, investment business and insurance companies as well as other non-bank financial firms. This group of businesses created 356 new positions, a 7.5 per cent jump that brought the total number of workers to 5,077. In the insurance sector alone the employment growth reached 11.5 percent, resulting in a leap from 2,060 jobs back in 2009 to a total of 2,297 jobs last year.

In banking there was actually a slight drop in jobs. At the close of 2009 there were 8,946 jobs in banking, while at the end of 2010 that number had declined to 8,782.

Paul Holdsworth, Staff Writer, Gulf Jobs Market News
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