Daily Personal Finance Insights – Emirati employment

Daily Personal Finance Insights – Emirati employment
14 February 2013

Employment in the UAE

High Emirati unemployment lower working hours

A new study, “Taking a more sophisticated approach to GCC labour market policy,” commissioned by the Dubai Government Summit and completed in collaboration with McKinsey and Company, revealed 9% of Emiratis surveyed were unemployed which, whilst a low level by regional standards, is rather high in developed economic countries. Emirati men were found to be twice as likely to be unemployed as women and those under 25 are three times more likely to be unemployed compared to those above 36 where employment was at higher levels.

Of the Emirati’s surveyed, 61% worked with the public sector. The working hours in the UAE’s private sector were found to be longer with 54% of private sector employees saying they worked more than 40 hours per week, in comparison to 18% of public sector employees. While most public sector employees work less than 40 hours per week (82%), only 46% of private sector employees do so.

Equality

Index of Women's Advancement

The MasterCard Worldwide Index of Women's Advancement, which is part of a sustained effort to measure the socioeconomic standing of women and is comprised of five indicators: Business Ownership, Business & Government Leadership, Workforce Participation, Regular Employment Opportunities and Tertiary Education, revealed the following factors pertaining to women advancement in the UAE.

The UAE is moving towards a level playing field in terms of regular employment opportunities for women, however there is significant room for growth in business (where a percentile of 3 out of 10 businesses are owned by women) and further advancement is recommend within government leadership positions.

Whilst employment opportunities for men and women are comparable, the employment landscape shows less than 50% of women in the workplace.

Environment

Inexpensive clean energy project

A team of seven Emirati ‘green’ entrepreneurs has developed a project to bring clean-energy to farms and ranches across the UAE, with initial support from Masdar’s Young Future Energy Leaders (YFEL). Titled ‘Moving toward a Sustainable Environment’, the project was inspired by the young entrepreneurs’ visit to rural areas in northern India, where villagers were generating electricity through clean, inexpensive rice-husk gasification, rather than diesel-powered generators.

The pilot will provide customers across Awafi with cheap and eco-friendly electricity that meets energy requirements in a way that can replace their current use of diesel generators. With zero emissions, no government formalities, easy operation without the need for technical expertise, lowest-cost electricity and low-cost maintenance, the project supports Abu Dhabi’s move towards a low-carbon economy in the UAE

And finally…

Nima Abu-Wardeh will be participating in the #1billionrising an international ‘event’ to end violence against women. Join Nima and many others on Valentine’s Day from 5pm at Kite Beach Dubai.

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Author
Head of Behavioral Finance
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