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UAE companies looking to hire in 2011
As a survey finds more than a third of UAE companies intend on hiring staff in 2011, Kipp wonders whether the doomsday predictions for UAE’s expat exodus have come to an end.
October 31, 2010 1:41 by Eva Fernandes
According to the latest Regus Business Tracker report from Regus, a global office space solutions provider, more than a third of business in the UAE plan to hire new staff. The bi-annual survey, which interviewed more than 10,000 businesses around the world, found that of the companies surveyed, 36 percent said they intend to increase the headcount, with 34 percent of companies in the UAE saying they would increase their workforce. The figures were calculated not only by considering the companies that were intending to hire staff, but also taking in to account the number of companies cutting back on employees. While the findings of the Regus Business Tracker are definitely positive as they show a shift in the business mindset towards growth and investment, 41 percent of UAE companies interviewed said they were trying to cut costs through means other than redundancies.
And as reports of signs of recovery in the local markets emerge, experts fear for the effect mass reduction schemes within governments will have on unemployment levels, particularly in Europe. Economists fear cost cutting measures by governments may cause unemployment to last a lot longer. This year’s Nobel Prize for Economics winner Christopher Pissarides, who specializes in unemployment, has already called Britain’s plans to cut civil servants by almost half a million people, ‘unnecessary’ and ‘unjustified.’ Pissarides’ comments come after the release of a report from the UN International Labour Organization (ILO), which found employment was not likely to recover to pre-crisis levels for another five years, especially if current economic policies are pursued. The ILO warned governments not to withdraw stimulus packages given the current weak nature of recovery.
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