UAE Central Bank: Construction employment grew 0.9% in Q1 2019
Employment growth across all sectors coincides with increase in value of loans provided to the private sector
The UAE Central Bank has released statistics showing that the employment rate in the country's construction sector grew by 0.9% during Q1 2019 compared to Q1 2018.
According to UAE state news agency, Wam, the construction employment rate had noted a decline of 1.2% in the preceding quarter.
Employment in the UAE’s real estate sector increased by 4.4% compared to the same period in 2018, with private sector employment witnessing steady quarterly rises too, growing by 1.2% in Q1 2019 compared to a 0.6% drop in the previous quarter.
The report revealed that the growth in overall, cross-sector employment overlapped with an increase in the value of loans provided to the private sector.
Credit provided to the construction and real estate sector increased quarterly by 2.5% in Q1 2019, Wam added.