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Banking, ICT and FMCG are Leading Sectors in the UAE Job Market Recovery

UAE : 28 September 2010

There is evidence of a hiring boost spread throughout various sectors in the emirate, according to experts.

A variety of sectors are experiencing a boost in hiring, including the leading industries of banking, fast moving consumer goods (FMCG) and telecommunications, as reported by the top headhunters in the nation.

Michael Al Nassir noted that there is increased activity in pharmaceuticals, IT, telecommunications and FMCG, as well as a significant amount of hiring in the financial services area.  Al Nassir is a partner in Pedersen & Partners and Head of Middle East, Africa and India.  He feels that the financial services hires may be replacing those left vacant as opposed to creating new management positions.

The General Manager for Lobo Management, Royston Fernandes, stated that FMCG is the leading sector in their company.

While Pathway Resourcing Middle East Business Manager Hasnain Qazi said that the banking industry shows great promise after going through serious decline in the recent recession.

Qazi noted that retail banking has initiated a lot of hiring, as have investment banks and houses.  He stated that they were likely replacing staff that had become redundant just before the financial crisis hit.

Looking at 2010 in particular, Qazi stated that priority banking had seen the most action, as evidenced in front line SRMs and RMs.  This applied to all UAE national bankers.

Marketing and Operations Director at Stanton Chase, Konstantina Sakellariou, also noted a growing momentum in the industries of financial services, technologies and retail consumerism.

Sakellariou, also a Partner at Stanton Chase, specified that industrial firms, with the exception of real estate and construction companies, were numbered among the most active.  Also technology companies, retail and consumer-focused firms and more specialty sectors of the broad financial services industry were doing a fair amount of hiring.

There were numerous jobs lost in 2009 as a result of economies slowing worldwide.  Those sectors that have a direct exposure to global economies, such as real estate, banking and construction, saw the most cuts.

Today the experts in employment are witnessing a significant shift in that trend spread throughout the market.  A promising recovery for the job market is evident in the UAE.

Paul Holdsworth, Staff Writer, Gulf Jobs Market News
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