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FINANCIAL NEWS
GCC jobs market sound despite global economic crisis
18 Dec 2011
(MENAFN) A news report, issued by Antal International, confirmed the strength of GGC job market amid widening fears of a second global recession, Arabian Business reported.
The recruitment firm’s survey showed that most Gulf countries were among the top 15 countries in the world with.
Antal said this is a positive trend despite the western crisis, however the growth was driven by emerging economies like MENA, India, China, Turkey and Russia.
According to the survey, Qatar topped the GCC states and ranked third in the world with 77 percent of companies currently hiring, followed by Saudi Arabia which ranked sixth globally with 73 percent of companies hiring.
The data in the report also showed that 62 percent of the companies working in GCC were hiring in November, up from 46 percent in March, which places the GCC well above the global average rate of 56 percent.
Moreover, Antal found that job cuts also fell this quarter to 13 percent for GCC and 11 percent for UAE, giving them a lower firing rate than the global average of 16 percent.
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