Abu Dhabi: The United Arab Emirates (UAE) job market grew for the 14th month in a row in June, driven by an acceleration in the non-oil sector, according to the S&P Global UAE Purchasing Managers Index (PMI), a survey aimed at outlining the private sector.
The country’s demand for new workers was driven by new orders, which hit a four-year high in June.
The UAE’s PMI, a reading that tracks activity in the private sector on indicators such as incoming orders, labor costs and new hires, rose as high as 56.9 to 55.5 in June.
The retail, travel, tourism and technology sectors posted growth in June, driven by the Eid holiday and new hiring.
“Receipts from new jobs rose in June, but economic activity continued to pick up, with more jobs being created and buying activity expanding,” said Andrew Harker, economic director at S&P Global Market Intelligence. Reuters.
“As a result, this should support further increases in staffing levels in the coming months as companies work to contain workloads,” Harker added.
Increased business activity towards the end of the second quarter of 2023 also boosted employment opportunities.
The rise in new orders is understood to be supported by increased customer demand and promotional offers, which will help sustain sales.
This post was last modified on July 8, 2023 at 5:35pm