UAE: Employment movement and salary rate are higher than pre-Corona levels

UAE: Employment movement and salary rate are higher than pre-Corona levels
UAE: Employment movement and salary rate are higher than pre-Corona levels

Ramallah – Dunya Al Watan
The Central Bank of the Emirates stated that its wage protection system shows that the employment movement and the salary rate are stable, in the second quarter of this year, but they were higher than their levels during February 2020.

In its latest report, the Central Bank stated that this includes employees of the Ministry of Human Resources and Emiratisation, the Jebel Ali Free Zone Authority, and some employees of licensed financial institutions, according to (Russia Today).

The (Wages Protection System) is an innovative mechanism whereby establishments pay the wages of their workers through banks, exchange companies and financial institutions that provide the service.

The bank stated in its report: “The Purchasing Managers’ Index in the UAE rose by 11.3% on an annual basis in the second quarter, as it achieved an increase and entered a wider range, and this improvement reflects the high sentiment boosted by the vaccine program and Expo 2020 Dubai.”

In turn, the (strictness index), issued by Oxford University, decreased from 53 at the end of March 2021 to 47 at the end of June 2021, confirming the relative openness of the economy compared to its regional and international counterparts, which benefited the UAE, given its role as a regional center For trade, transport and travel.

The report pointed out that oil production in the UAE decreased by 9.6% on an annual basis, while it increased by 1.4% on a quarterly basis, in line with the (OPEC+1) agreement.

 
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