Online recruitment activity expanded the most in BFSI
Online recruitment activity expanded the most in the banking, financial services and insurance (BFSI) sector between April 2013 and April 2014, according to the Monster Employment Index, a monthly gauge of online job posting activities in the Middle East region. The consumer goods and FMCG, food and packaged food, home appliances, garments, textiles and leather, and gems and jewellery industries saw the most notable annual declines.
“The UAE witnessed a 26 per cent year-on-year growth when it came to occupations in purchase, logistics and supply chain, along with the strongest growing industries being healthcare and BFSI, both showing a 21 per cent year-on-year growth, thanks largely to their long-term ambitions and the demand that both sectors are experiencing. On the other hand, in KSA, hospitality sector saw a 21 per cent year-on-year growth, with sales and business development exhibiting a 23 per cent year-on-year occupational growth,” says Sanjay Modi, managing director at Monster.com for India Middle East South East Asia.
The index is based on real-time reviews of tens of thousands of employer job opportunities culled from a representative selection of career websites and online job listings. It does not reflect the trend of any advertiser or source, but is an aggregate measure of the change in job listings across industries.
“As we can see, with the majority of GCC countries, oil and gas recorded the most notable decline, which could be reflective of the challenging economic conditions in other countries. However, the overall index continues to chart progressive expansion in recruitment opportunities online, when compared with the previous year,” adds Modi.
The Monster Employment Index revealed improved year-on-year trends in nine out of 13 monitored industry sectors. The BFSI sector (up by 32 per cent) continues to exhibit robust and progressively improving growth rates. Nevertheless, the sector charted fewer opportunities on a monthly basis. Retail, trade and logistics (up by 27 per cent) ranks second, as the pace of annual growth moderated slightly between March and April 2014. Hospitality (up by 23 per cent) maintained a steadfast growth rate and recorded the second successive positive growth this year; up by 12 percentage points from 11 per cent in March 2014. Production and manufacturing, and automotive and ancillary (down by 12 per cent) recorded double-digit annual declines, once again. Year-on-year online hiring in the oil and gas sector (down by 15 per cent) eased for the second month in succession.
The consumer goods and FMCG, food and packaged food, home appliances, garments, textiles and leather, and gems and jewellery sectors (all down by 18 per cent) exhibited the most notable year-on-year, as well as month-on-month, declines.
Furthermore, online job availability improved in three out of seven countries monitored by the index. Kuwait (up by 32 per cent), Egypt (up by 20 per cent) and Qatar (up by five per cent) are the only cities to record positive annual growths. While Kuwait leads all monitored countries by the way of long-term growth, Qatar and Egypt are among the only countries to exhibit consistent growth over a period of time. The UAE (down by one per cent) saw an improvement in the annual growth momentum as the index moved closer to last year’s level; up by 15 percentage points to -16 per cent in March 2014. Saudi Arabia (down by seven per cent) exhibited the most notable annual decline among all countries monitored by the index.