The latest Purchasing Managers Index data from S&P Global suggests that the Saudi Arabian and the UAE job market is experiencing increased demand.
According to the report, the improved business conditions, better sales and marketing, and introduction of new projects can be credited for the upward trend in demand for talent.
The report hints that the improvement was seen almost everywhere. The comparatively lower inflation rate has resulted in increased demand, which has had a spillover effect on various jobs. The increased demands didn’t go unanswered, and the suppliers could handle the spike efficiently while vendors ensured that they had enough inventories; hence the delivery times were also reduced.
Both the countries have ensured that the fuel costs remain under control. The two have also set aside a massive fund to counter inflation and support people living below or near the poverty line.
That said, the Kingdom’s inflation was second-fastest in the last four years, even though on the lower side.
“The biggest challenge facing UAE non-oil businesses is inflation. While the latest results pointed to a softer upturn in overall input costs, the rate of increase was nevertheless the second-strongest in four-and-a-half years amid global shortages of inputs and greater prices for fuel, materials, and shipping,” said David Owen, an S&P Global Market Intelligence economist.
“New business continued to rise substantially, helped by recovering demand and strengthening export sales. As a result, output expanded sharply, and employment numbers rose at the fastest pace since September 2019, following a period of weakness in labor markets since the COVID-19 pandemic began,” he added.
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