Recent figures just released indicate that although there was a slight drop in employment in the banking sector last year lay-offs were not as high as many reports had recently indicated. While there was substantial growth in the sector between 2004 and 2008 the decrease in 2009 was only said to be marginal.
The Central Bank’s statistics show that at the end of 2008 there were 39,589 employees of the banking sector and by the close of 2009 this figure had decreased to 37,704 overall these figures indicate that the sector shed 1,885 employees during 2009 which was approximately 4.75% of the workforce for the sector.
While there was a drop in employment overall during the last two months of 2009 banks in the United Arab Emirates actually increased their staff levels by just over 460.
It is now being stated that during the first quarter of 2010 there has already been a good surge in those finding work in the banking sector and this trend is expected to increase in momentum throughout the remainder of the year. Most new employment at present appears to be for support staff in such areas as customer services and retail sales staff.
The number of bank branches within the United Arab Emirates has also risen in 2009 there are now 674 bank branches in the region in comparison to 614 in 2008. This indicates that existing staff are now more productive than before as the number of employees decreased and more branches were opened in 2009.Paul Holdsworth, Staff Writer, Gulf Jobs Market News