FINANCIAL NEWS

UAE’s jobless rate reaches 13%

12 Jan 2011

(MENAFN) The UAE’s Federal National Council (FNC) revealed in a report that the jobless rate among Emirates in the UAE has accelerated to nearly 13 percent, with figures being the highest amongst women and younger people, despite Emiratis dominating public sector jobs, Arabian Business reported.

According to the FNC report, overall unemployment in the northern emirates stood at 16.6 percent, with a slightly lower figure among Emiratis in the southern emirates of 11.6 percent. Moreover, for Emiratis between the ages of 15 and 24, joblessness was estimated at a significantly higher 23.1 percent.

Furthermore, in 2006, Emiratis held 69 percent of federal jobs, but that figure had declined to 54.5 percent in 2008, and inched slightly to 60.9 percent by April 2010; which is considered an insufficient rise by the FNC.

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