FINANCIAL NEWS

UAE jobless rate falls to 4.2% last year

31 May 2010

(MENAFN) A report issued by the UAE government showed that the country?s unemployment rate fell to 4.2 percent last year from double-digit levels, despite the impact of the global financial crisis, Gulf News reported.

The report showed that 53 percent of the UAE population is employed while 19.9 percent has no desire to work. Employment rate among expatriate workers is 79 percent while about 45 percent of UAE nationals are employed.

The report highlighted that the majority of the unemployed are fresh graduates under the age of 25. Among the emirates, the unemployment rate is lowest in Dubai due to the high level of economic activity.

The economically active workforce is aged between 25 to 54 years. Of this group, 42 percent is female while the average of the male working population in this age bracket is more than double, 89 percent.

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