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The state of economies are ever changing and the world’s economy is set to grow in 2018, but what about the regional economies? The latest results from the Middle East Job Seeker Confidence Survey carried out by Bayt.com, the Middle East’s number one job site, and global market research company, YouGov, indicates that over one third (35%) of respondents in Lebanon expect business conditions to improve. 24% said they expect business conditions to “remain the same,” while 28% said they could get worse.
In addition, over a third (34%) of respondents are either “somewhat” or “very hopeful” that they will find their ideal job in the next six months.
With regards to job satisfaction levels, nearly half (45%) of respondents in Lebanon are satisfied with their career growth opportunities, while 16% are neutral.
Looking at future career growth opportunities, 32% of respondents in Lebanon believe that career growth opportunities will get better over the next six months, 37% said they will remain the same, while only 18% said they could get worse.
This outlook by respondents was also reflected on their expectations for compensation in the next six months, with close to one quarter (23%) believing that it will get better.
“As the leading job site in the Middle East, it is our role to provide all professionals with insights on the economic and financial conditions and how they connect to the job market and availability of career opportunities,” said Suhail Masri, Vice President of Employer Solutions, Bayt.com. “At Bayt.com, we aim to empower professionals, job seekers and employers alike, so that they can address and overcome any economic changes and make room for improvements in their careers. Our organisation works with over 29 million professionals and provides them with the necessary tools and technologies to enhance their profiles and CVs on our portal. We have also worked with over 40,000 companies who advertise over 10,000 vacancies on Bayt.com on any given day, as well as use Bayt.com’s CV Search tool to find and recruit thousands of qualified job seekers for their business.”
Personal Economic Conditions
Respondents in Lebanon were asked about their personal financial conditions. Over a third (35%) of respondents believe that their or their family’s financial position will “improve” in the next six months, 30% of respondents expect their financial conditions to “remain the same as it is now,” while only 16% said they could become worse.
Looking at business conditions, respondents are fairly optimistic about future business conditions within the next year, where over one third (35%) expect them to improve.
Anjali Chhabra, Senior Research Manager, YouGov, said: “It is important for us to regularly conduct thorough research regarding job seekers’ and employed individuals’ sentiments and opinions and share that information with the region. The Middle East Job Seeker Confidence Index survey gives us many insights into the personal, business and economic conditions of the region. For instance, the majority of respondents are anticipating significant improvements in business conditions and availability of jobs. If this holds true, it will surely reflect positively in many other areas in the economy.”
Data from the 2017 Bayt.com Middle East Job Seeker Confidence Survey was collected online from August 1st, 2017 to August 24th, 2017. Countries included the UAE, KSA, Kuwait, Oman, Qatar, Bahrain, Lebanon, Jordan, Egypt, Morocco, Algeria, and others.