NATIONAL BANK OF DUBAI WARNS FROM RISING UNEMPLOYMENT

Info-Prod Research (Middle East), February, 2005

According to Al-Ittihad newspaper (February 2, 2005), the quarterly report issued by the National Bank of Dubai warned from the recently rising unemployment levels amongst the national residents of the Arabian Gulf States. The report called to find a new mechanism to enhance the nationals' enrollment into the workforce in these states. The report estimated the rate of unemployment at 15% in the UAE and Oman, 16% in Qatar, 9.6% in Saudi Arabia, 9% in Kuwait and 8.9% in Bahrain.

The report mainly urged three economic sectors to increase nationals' employment, which are commerce, construction and industry.