The UAE ranked first in the Arab world and 21st globally on the Global Labour Resilience Index 2020, which was issued in Davos, Switzerland, during a special session held on the sidelines of the 50th summit meeting of the World Economic Forum.
The UAE has climbed 12 places on the index’s overall rating over the past five years, up from 33 in 2015, and it is the only GCC country to rank among the top 30 countries the year.
Bahrain is the nearest Gulf nation to the UAE and ranked 15 places below in 36th for the year.
The Global Labor Resilience Index measures the level of future unemployment risks that countries face based on geographical disparities, structural shifts, policy and technology changes and their impact on the labor market; with the report for the current year ranking 145 countries and economies on the flexibility of their labor markets in light of the technological transformation.
Sultan bin Saeed Al Mansoori, UAE Minister of Economy, said: "The UAE’s achievements on the Global Labour Resilience Index 2020 is a testament to the national economy as it has made great strides in enhancing its economic potential in the digital age and improving its ability to confront the widespread economic changes at international level.
“This includes the ability to keep pace with progress in economic complexity, and adopting a knowledge economy model that focuses on the know-how needed to produce goods and services, diversify exports, increase the diversification of the economic base and reduce dependence on oil.”
Switzerland ranked first, followed by Singapore in second and the United States in third.
Guy Ryder, director general of the International Labour Organisation, said: “The Global Labor Market Resilience Index highlights the importance of having appropriate policies to improve resilience.
“Many countries have improved their response to these policies in recent years through employment, skills development, social protection and other measures.”
He also pointed out that the global unemployment rate has decreased from 5.2% to 4.9%.
He said the biggest task moving forward is to create an influx of jobs that provide favorable opportunities and increase productivity to ensure workers do not hinder their professional development in low-quality jobs; adding this will require a comprehensive approach to government and the active participation of labor market representatives and other stakeholders.
The index was led by Whiteshield Partners, a London-based consultancy firm that specialises in global public policy and strategy, in cooperation with the Oxford University Saïd Business School, ManpowerGroup, and the UK Institute for the Future of Work.