Employment and Salary Trends in the Gulf 2009-2010
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Employment and Salary Trends in the Gulf 2009-2010
POEA Market Update No. 06-10
January 1, 2009
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Philippine Overseas Employment Administration
POEA Labor Market Updates
Labor
Employment and Salary Trends in the Gulf 2009-2010
POEA Market Update No. 06-10
•January 1, 2009
December 2009POEA MARKET UPDATE NO. 06-10EMPLOYMENT AND SALARY TRENDS IN THE GULF 2009-2010In 2009, GulfTalent.com has undertaken a survey on the job market situation following the crisis covering Saudi Arabia, Kuwait, Qatar, Bahrain, Oman and the UAE, including Dubai for the year 2009-2010. The report provides the following highlights: • The slowdown has completely altered the dynamics of the labor market. With unemployment on the rise across the world and regional demand for talent shrinking, the balance of power has shifted from candidates to employers. Recruitment has slowed down significantly across the Gulf, most notably in Dubai, given its higher exposure to credit financing and global markets.• Many companies cut staff during 2009, with an estimated 10%, or one in ten professionals, losing their jobs. This was highest in the UAE at 16% and, on a sector basis, in real estate at 15%. Across the region, redundancies appear to have disproportionately hit senior executives and Western nationals.• Moves by some GCC governments to restrict termination of nationals have helped secure their jobs in the short...
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