UAE’s job creation rate at a six-year high

UAE’s job creation rate at a six-year high

Overall non-oil business conditions improved at a robust rate at the start of the fourth quarter amid a sharp uplift in demand conditions, according to a new survey

Some survey panelists cited that new clients, lower prices, improved services, property boom, and the upcoming Fifa World Cup in Qatar had contributed to the rise in sales. — File photo

Published: Thu 3 Nov 2022, 5:18 PM Last updated: Thu 3 Nov 2022, 5:20 PM

Job creation accelerated in the UAE at the sharpest pace in six years as businesses responded to rising backlogs by increasing their employees in October.

Overall non-oil business conditions improved at a robust rate at the start of the fourth quarter amid a sharp uplift in demand conditions, according to a new survey released on Thursday. Businesses also experienced a faster upturn in both output and new orders.

“The strengthening of demand conditions brought additional capacity pressures, leading firms to increase their headcounts at the sharpest rate since July 2016 and purchase inputs to the greatest extent for over three years,” the S&P Global UAE Purchasing Managers' Index survey report said.

Some survey panelists cited that new clients, lower prices, improved services, property boom, and the upcoming Fifa World Cup in Qatar