{"id":20947,"date":"2023-09-28T18:23:51","date_gmt":"2023-09-28T12:53:51","guid":{"rendered":"https:\/\/www.founditgulf.com\/career-advice\/?p=20947"},"modified":"2023-11-15T13:41:43","modified_gmt":"2023-11-15T08:11:43","slug":"foundit-insights-tracker-gulf-july-2023","status":"publish","type":"post","link":"https:\/\/www.founditgulf.com\/career-advice\/foundit-insights-tracker-gulf-july-2023\/","title":{"rendered":"July 2023 Hiring Overview: Insights from Foundit Insights Tracker\u00a0"},"content":{"rendered":"<h3 class=\"wp-block-heading\"><strong>Hiring Trends: An Overview<\/strong>&nbsp;<p class=\"wp-block-paragraph\">July 2023 marked a slight 1% YoY decline in Middle East hiring activity, with flat hiring MoM.&nbsp;&nbsp;<\/p><p class=\"wp-block-paragraph\">Notably, a 5% uptick in hiring over the past six months suggests that employers are on a positive trajectory.&nbsp;<\/p><h3 class=\"wp-block-heading\"><strong>Country-Specific Data (MoM)<\/strong>&nbsp;<\/h3><p class=\"wp-block-paragraph\"><strong>Oman <\/strong>leads with a 4% increase in hiring&nbsp;&nbsp;<\/p><p class=\"wp-block-paragraph\"><strong>Bahrain <\/strong>follows with a 2% growth&nbsp;<\/p><p class=\"wp-block-paragraph\"><strong>Kingdom of Saudi Arabia &amp; Kuwait <\/strong>each experienced a 1% MoM growth in hiring&nbsp;<\/p><p class=\"wp-block-paragraph\"><strong>Egypt <\/strong>stays flat (0%) with a steady, unchanging job market&nbsp;<\/p><p class=\"wp-block-paragraph\"><strong>Qatar <\/strong>experienced a slight decline, dropping by 2% MoM&nbsp;&nbsp;<\/p><p class=\"wp-block-paragraph\"><strong>United Arab Emirates <\/strong>saw a significant decline at 5%, highlighting ongoing difficulties in its job market.&nbsp;<\/p><h2 class=\"wp-block-heading\"><strong>Function-wise trends&nbsp;<\/strong>&nbsp;<\/h2><h3 class=\"wp-block-heading\"><strong>Sectors on the Rise<\/strong>&nbsp;&nbsp;<\/h3><p class=\"wp-block-paragraph\"><strong>Healthcare saw an outstanding 22% YoY growth<\/strong>, possibly spurred by global health crises.&nbsp;<\/p><p class=\"wp-block-paragraph\"><strong>Engineering and Production <\/strong>weren&rsquo;t far behind, with a 9% YoY growth, likely due to increased industrial activities.&nbsp;<\/p><p class=\"wp-block-paragraph\"><strong>Customer Service roles <\/strong>shifted gears, growing by 3% YoY and even spiking 21% MoM, suggesting a surge in e-commerce or remote service needs.&nbsp;<\/p><h3 class=\"wp-block-heading\"><strong>Sectors in Decline<\/strong>&nbsp;<\/h3><p class=\"wp-block-paragraph\"><strong>Software, Hardware &amp; Telecom slid by 18% YoY<\/strong>, hinting at market saturation or outsourcing.&nbsp;<\/p><p class=\"wp-block-paragraph\">Sales &amp; Business Development and Legal both shrunk by 7% YoY, reflecting a cautious business climate and perhaps fewer litigation activities.&nbsp;<\/p><p class=\"wp-block-paragraph\">Mixed Performers&nbsp;<\/p><p class=\"wp-block-paragraph\">HR &amp; Admin roles stayed stable, growing marginally by 1% YoY.&nbsp;<\/p><p class=\"wp-block-paragraph\"><strong><a href=\"https:\/\/www.founditgulf.com\/search\/finance-accounts-jobs\" target=\"_blank\" rel=\"noopener\" title=\"Finance &amp; Accounts \">Finance &amp; Accounts <\/a><\/strong>and Marketing &amp; Communications both saw a modest YoY growth of 2% and 3%, respectively. Hospitality and Travel declined by 2% YoY, whereas Purchase\/Logistics\/Supply Chain roles dipped by a more concerning 8%.&nbsp;<\/p><iframe loading=\"lazy\" src=\"https:\/\/docs.google.com\/presentation\/d\/e\/2PACX-1vTw6YMZvcDlI_YdlZgZOUHdejM4Y7yk9AEKE4IZNE4X9M7cLV85cO2MR9META-P5A\/embed?start=false&amp;loop=false&amp;delayms=3000\" frameborder=\"0\" width=\"640\" height=\"389\" allowfullscreen=\"true\" mozallowfullscreen=\"true\" webkitallowfullscreen=\"true\"><\/iframe><h3 class=\"wp-block-heading\"><strong>Industry Highlights&nbsp;<\/strong>&nbsp;<\/h3><p class=\"wp-block-paragraph\">Four out of the 12 monitored industries showed a YoY increase&nbsp;<\/p><p class=\"wp-block-paragraph\"><strong>High-Growth: <a href=\"https:\/\/www.founditgulf.com\/search\/oil-and-gas-jobs\" target=\"_blank\" rel=\"noopener\" title=\"Oil and Gas\">Oil and Gas<\/a><\/strong> surges by 22%&nbsp;<\/p><p class=\"wp-block-paragraph\"><strong>Moderate Growth: <\/strong>Production\/Manufacturing, Automotive and Ancillary (+7%), BFSI (+1%)&nbsp;<\/p><p class=\"wp-block-paragraph\"><strong>Declining Industries: <\/strong>IT and Telecom\/ISP (-26%), Retail\/Trade and Logistics (-21%), Consumer Goods\/FMCG etc. (-15%)&nbsp;<\/p><h2 class=\"wp-block-heading\"><strong>Hiring Trends by Country: A Glimpse into KSA and UAE<\/strong>&nbsp;<\/h2><h3 class=\"wp-block-heading\"><strong>Kingdom of Saudi Arabia<\/strong>&nbsp;<\/h3><p class=\"wp-block-paragraph\"><strong>High-Growth:<\/strong> Engineering and Construction (+25%)&nbsp;<\/p><p class=\"wp-block-paragraph\">In Saudi Arabia, the job market shows contrasting trends, influenced by the country&rsquo;s Vision 2030 plan and current economic shifts. Investments in infrastructure projects are paying off, notably in the Engineering and Construction sector.&nbsp;<\/p><p class=\"wp-block-paragraph\"><strong>Steep Decline: <\/strong>IT and Telecom\/ISP (-46%)&nbsp;<\/p><p class=\"wp-block-paragraph\">However, the tech world isn&rsquo;t sharing the same fortune. The IT and <strong><a href=\"https:\/\/www.founditgulf.com\/search\/telecom-jobs\" target=\"_blank\" rel=\"noopener\" title=\"Telecom\">Telecom<\/a><\/strong>\/ISP sectors are facing challenges that have led to a significant contraction in job opportunities.&nbsp;<\/p><h2 class=\"wp-block-heading\"><strong>United Arab Emirates: Dynamic Shifts<\/strong>&nbsp;<\/h2><p class=\"wp-block-paragraph\"><strong>Strongest Growth: <\/strong>Retail\/Trade and Logistics (+72%)&nbsp;<\/p><p class=\"wp-block-paragraph\">The UAE job market is going through a split of its own. On one hand, Retail\/Trade and Logistics are surging, possibly due to the country&rsquo;s strategic geographic positioning and its investments in becoming a global trading hub.&nbsp;<\/p><p class=\"wp-block-paragraph\"><strong>Major Decline:<\/strong> BFSI (-32%)&nbsp;<\/p><p class=\"wp-block-paragraph\">On the flip side, the BFSI sector is seeing a decline, perhaps indicative of either market saturation or a cautious recalibration in financial services.&nbsp;<\/p><h2 class=\"wp-block-heading\"><strong>Conclusion<\/strong>&nbsp;<\/h2><p class=\"wp-block-paragraph\">July 2023 presents a nuanced landscape in Middle Eastern hiring. Despite a marginal annual decline, the market exhibits positive signs, led by <strong><a href=\"https:\/\/www.founditgulf.com\/search\/oil-gas-jobs?searchId=849179cd-ccdc-4900-96d1-5f433b028b79\" target=\"_blank\" rel=\"noopener\" title=\"Oil and Gas\">Oil and Gas<\/a><\/strong>. The IT and Telecom sectors, on the other hand, continue to wane.&nbsp;&nbsp;<\/p><div style=\"text-align: center;\">\n<a font-size: 18px;border-radius: 4px;font-weight: bold;\" href=\"https:\/\/media.foundit.in\/career-advice\/wp-content\/uploads\/2023\/10\/fit_Gulf_-July23.cleaned.pptx.pdf\" target=\"_blank\" rel=\"noopener\">Download July 2023 fit Report (Gulf) PDF<\/a>\n<\/div><h2 class=\"wp-block-heading\"><strong>About the foundit Insights Tracker<\/strong>&nbsp;<\/h2><p class=\"wp-block-paragraph\">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.&nbsp;<\/p><\/h3>\n","protected":false},"excerpt":{"rendered":"<p>Hiring Trends: An Overview&nbsp;July 2023 marked a slight 1% YoY decline in Middle East hiring activity, with flat hiring MoM.&nbsp;&nbsp;Notably, a 5% uptick in hiring over the past six months suggests that employers are on a positive trajectory.&nbsp;Country-Specific Data (MoM)&nbsp;Oman leads with a 4% increase in hiring&nbsp;&nbsp;Bahrain follows with a 2% growth&nbsp;Kingdom of Saudi Arabia &hellip; <a href=\"https:\/\/www.founditgulf.com\/career-advice\/foundit-insights-tracker-gulf-july-2023\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">July 2023 Hiring Overview: Insights from Foundit Insights Tracker\u00a0<\/span> <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":17264,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[13],"tags":[],"class_list":["post-20947","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-insights-tracker"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.founditgulf.com\/career-advice\/wp-json\/wp\/v2\/posts\/20947","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.founditgulf.com\/career-advice\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.founditgulf.com\/career-advice\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.founditgulf.com\/career-advice\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.founditgulf.com\/career-advice\/wp-json\/wp\/v2\/comments?post=20947"}],"version-history":[{"count":9,"href":"https:\/\/www.founditgulf.com\/career-advice\/wp-json\/wp\/v2\/posts\/20947\/revisions"}],"predecessor-version":[{"id":22555,"href":"https:\/\/www.founditgulf.com\/career-advice\/wp-json\/wp\/v2\/posts\/20947\/revisions\/22555"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.founditgulf.com\/career-advice\/wp-json\/wp\/v2\/media\/17264"}],"wp:attachment":[{"href":"https:\/\/www.founditgulf.com\/career-advice\/wp-json\/wp\/v2\/media?parent=20947"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.founditgulf.com\/career-advice\/wp-json\/wp\/v2\/categories?post=20947"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.founditgulf.com\/career-advice\/wp-json\/wp\/v2\/tags?post=20947"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}