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UAE recruiter warns of 'mass exodus' of expats due to high costs, lack of jobs

 

Cost of living increases and an uncertain jobs market could see a “mass exodus” of expats from the UAE, said a recruitment expert.

The fallout from the oil price slump means some expats can no longer afford to live in the emirates, Trefor Murphy, MENA managing director for recruitment consultancy Morgan McKinley told The National.

“It is rumourville," said Murphy. “I have heard all the talk about a mass exodus.

“Starting with oil and gas, then banking and financial services, in general, recruitment has seen bit of a dive. If you lose a job in these sectors at the moment, it is more difficult to get new work.

“The factors that affect our decision to stay in a country that is not ours is always the opportunity of gaining something better or more quickly than you would back home. There is a lack of confidence that will continue to be the case in the short term."

Studies by Morgan McKinley showed that employers were tightening their belts, with salaries stagnating and bonuses non-existent or barely notable, according to the report.

“In our salary study for 2016, we thought salaries would remain flat or have a very, very nominal increase, but that was subject to oil maintaining a $50/$60 a barrel rate," said Murphy. “Of course, oil has done nothing but go way below our expectations, so when jobseekers contact us about potentially looking to come into the market, we now say to them: ‘Do not leave your job’.

“Even if you didn’t get a bonus or you feel slightly miffed about something, holding on to your job is ultimately very important at the moment."

 

In Oman, hundreds of workers are being sent back daily to their home countries due to lack of projects, work officials told the Times of Oman.

One manager said: “In my camp in Sohar, there were more than 800 workers. As the company is not getting any new projects, they all are being sent back in phases. Now, including me, only a dozen are left. It is quite hard to see this. I have also been given notice. Tough times."

In the past six months, at least 5,000 workers have been sent back to their home countries by his firm, said company officials, according to the report.

“If there are no projects, what else can be done?” said the manager. "The oil price dip has hit us hard."

Source : http://www.arabianbusiness.com/

Cost of living increases and an uncertain jobs market could see a “mass exodus” of expats from the UAE, said a recruitment expert.

The fallout from the oil price slump means some expats can no longer afford to live in the emirates, Trefor Murphy, MENA managing director for recruitment consultancy Morgan McKinley told The National.

“It is rumourville," said Murphy. “I have heard all the talk about a mass exodus.

“Starting with oil and gas, then banking and financial services, in general, recruitment has seen bit of a dive. If you lose a job in these sectors at the moment, it is more difficult to get new work.

“The factors that affect our decision to stay in a country that is not ours is always the opportunity of gaining something better or more quickly than you would back home. There is a lack of confidence that will continue to be the case in the short term."

Studies by Morgan McKinley showed that employers were tightening their belts, with salaries stagnating and bonuses non-existent or barely notable, according to the report.

“In our salary study for 2016, we thought salaries would remain flat or have a very, very nominal increase, but that was subject to oil maintaining a $50/$60 a barrel rate," said Murphy. “Of course, oil has done nothing but go way below our expectations, so when jobseekers contact us about potentially looking to come into the market, we now say to them: ‘Do not leave your job’.

“Even if you didn’t get a bonus or you feel slightly miffed about something, holding on to your job is ultimately very important at the moment."

 

In Oman, hundreds of workers are being sent back daily to their home countries due to lack of projects, work officials told the Times of Oman.

One manager said: “In my camp in Sohar, there were more than 800 workers. As the company is not getting any new projects, they all are being sent back in phases. Now, including me, only a dozen are left. It is quite hard to see this. I have also been given notice. Tough times."

In the past six months, at least 5,000 workers have been sent back to their home countries by his firm, said company officials, according to the report.

“If there are no projects, what else can be done?” said the manager. "The oil price dip has hit us hard."

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