'Jobless rise due to uneven economy'
Abu Dhabi, August 27, 2008
The uneven distribution of economic development has resulted in the rising number of jobless UAE nationals in Abu Dhabi, according to a government official, a report said.
'The UAE is creating 300,000 jobs every year, yet it cannot deliver 10,000 jobs for its nationals to address an unemployment rate as high as 12 per cent because of these imbalances,' Dr Ahmed Zain Al Manawi, economic expert at Abu Dhabi's Department of Planning and Economy was quoted as saying in a Gulf News report.
The expert pointed out that nearly 55 per cent of the 300,000 UAE-registered businesses were owned by expatriates and Indians comprised 45 per cent of the managers in the private sector.
The emirate boasts a GDP growth of 21.8 per cent at current prices, an economic growth of 11 per cent in real terms and a per capita's share of the GDP of $71,230, which is the second highest in the world.
Among the challenges facing Abu Dhabi's economy he listed inflation and a working plan for balanced economic development in terms of geographic distribution, sectors and gender.