How real estate growth drove UAE jobs market in Q1

DUBAI, UAE - Nov. 20, 2019 - PRLog -- UAE Central Bank figures reveal how the employment rate in the UAE's property sector rose by 4.4% in Q1 Employment in the UAE's real estate market drove growth in the country's private sector during the first quarter of 2019, according to new statistics published by the UAE Central Bank. The employment rate of the UAE's property sector rose by 4.4 percent in Q1 compared to the same period in 2018 as overall private sector employment increased by 1.2 percent, a rebound from a 0.6 percent drop in the previous quarter.
According to the figures cited by state news agency WAM, the transport, storage and communication sectors witnessed the lowest quarterly increase by 0.1 percent, compared to a decline of 1.5 percent in the previous quarter.
Construction and services rose quarterly by 0.9 percent and 0.4 percent, compared to a decline of 1.2 percent and 1.1 percent in the preceding quarter, respectively.
The rise in employment in all economic sectors coincided with an increase in the number of loans provided to the private sector, which continued to rise in the first quarter of 2019, WAM said.
Total credit increased on a quarterly basis by 1.3 percent in the first quarter of 2019, compared to an increase of 0.9 percent in the previous quarter. Credit provided to the construction and real estate sector increased quarterly by 2.5 percent, while the mining sector registered a rise of 8.2 percent, and the electricity, gas and water sectors and transportation sector by 8.4 percent and 0.2 percent, respectively. Shaikhani Group Explained, employment is very necessary for everyone people are working in two ways either they work for someone or they work for their business. Both needs man power and labour why because without a labour company will face a lot of problems. Companies need employees to handle their operations, because one man cannot look after whole organization. If they open a visa with an easy process people would visit and look for the work. No one wants a lengthy process; they want things must be sort out very easily. Shaikhani group always believe helping others like giving them a job in their organization, where they will utilize their expertise and improve company's goals, Shaikhani tries to give benefits like giving them training if necessary and if there is a need they offer a employee to do some certifications where it would be beneficial for the company and for the employee's future.
Email:*** Email Verified
Industry:Real Estate
Location:Dubai - Dubai - United Arab Emirates
Account Email Address Verified     Account Phone Number Verified     Disclaimer     Report Abuse
Shaikhani Group PRs
Trending News
Most Viewed
Top Daily News

Like PRLog?
Click to Share