Hiring Overview
August 2023 witnessed uneven hiring activity in the Middle East, according to foundit Insights Tracker. The region observed a modest annual decline of 2% in recruitment levels.
Country-Specific Data (MoM)
Qatar & Egypt: Both registered a 1% MoM dip.
Saudi Arabia: Experienced a 1% MoM and a striking 15% YoY surge
Oman: Reported a notable 4% MoM increase
Bahrain & Kuwait: Showed a 1% MoM decrease and a 1% MoM uptick respectively.
UAE: Encountered a 20% YoY downturn, albeit with a 1% MoM increment.
Industry Analysis
Three out of twelve observed industries displayed YoY growth
High-Growth: Oil and Gas (+18%)
Moderate-Growth: Production/Manufacturing, Automotive, and Ancillary (+11%), Petrochemicals (+2%)
Declining Sectors: IT & Telecom/ISP (-27%), Consumer Goods, FMCG (-15%), Hospitality (-10%)
Function-wise Trends
Six out of 11 job categories monitored showed a YoY uptick:
High-Demand: Healthcare (+25%), Engineering and Production (+14%)
Moderate Growth: Finance & Accounts (+5%)
Declining Roles: Software, Hardware & Telecom (-17%), Sales & Business Development (-9%), Legal (-7%)
Countries in Focus: Saudi Arabia & UAE
Kingdom of Saudi Arabia
The Kingdom of Saudi Arabia experienced an impressive +14% YoY growth among all monitored industries.
High-Growth Industries: Advertising, MR, PR (+29%)
Declining Industries: IT and Telecom/ISP (-45%)
United Arab Emirates
High-Growth Occupations: Engineering and Production (+33%)
Lowest Growth: Sales & BD (-34%)
Conclusion
August 2023 has been a mixed bag in terms of hiring trends for the Middle East. While countries like Saudi Arabia and Oman have shown encouraging signs, others like UAE and Qatar face challenges.
Industries like Oil and Gas are showing promise, but sectors such as IT and Telecom are struggling.
The dynamic trends across countries and sectors indicate an intricate picture, with upskilling becoming increasingly crucial. Stay tuned for more comprehensive data in the coming months to keep a finger on the pulse of the job market.
About foundit Insights Tracker
The foundit Insights Tracker provides monthly and annual data on hiring trends across multiple sectors and countries in the Middle East. Stay tuned for future updates.
