Job seekers in the UAE have seen unemployment rates go down to 4.2% when they were in double digits during the height of the global economic crisis.
The news, released by the National Statistics Bureau, also reported that unemployment is highest amongst graduates aged under 25 with the lowest unemployment rates being seen in Dubai, which despite its recent troubles, still appears to have a fairly buoyant jobs market.
The report also served to highlight the continuing issue of UAE nationals gaining employment in the region. Expatriates employment rates are at 79 per cent, as opposed to the employment rates experienced by UAE nationals which are a meagre 45 per cent by comparison.
The GCC has an estimated 17 million expatriate workers which is almost half of the Gulf’s population, and numbers continue to soar, with projections of 30 million expatriates living in the Gulf in ten years time. The GCC Secretariat has described any such increase as having ‘very serious implications’ for the economic future of Gulf countries.Sarah O'Connell, Staff Writer, Gulf Jobs Market