He was a young man donning branded jeans, an attractive T-shirt and an expensive-looking backpack. He wore an eye-catching goggle.He walked along the famous Al Wahda Street of Sharjah and as he reached a place where some dustbins were lined up, he casually dug out used soft drink cans from the garbage containers, crushed them under his feet, thrust them into his backpack and moved on as casually as he walked. Obviously, he was picking them for resale.
The onlookers stared in amazement.
Well, I told you that many UAE residents are facing rough weather thanks to recession. See what the National newspaper has carried as a lead story today.
Headline: One in 10 residents have lost their jobs.
According to a poll conducted by YouGov, one in 10 people in the UAE say they have lost their jobs in six months. Almost half say their companies have trimmed workforce and a quarter say colleagues have been asked to take unpaid leave.
The hardest-hit sectors were construction and property. According to the paper, 90 per cent surveyed say they felt there was a lack of transparency in the UAE about the current financial situation, a concern felt most widely among westerners (97 per cent).
Am I sounding worried and negative? No, I am perfectly cheerful and confident of moving ahead. Only thought I should share with my friends, youuuu, the reality.
RAMESH....namaste jee.
ReplyDeleteIt is very sad for the people who work in construction co,one of my friend was given letter and they told him to leave immediately,he has paid school fees,brought books,uniforms for both this kids.He just left everything and went back :(
ReplyDeleteRents have come down in sharjah,the two bedroom flat which was 50-60k is now 35-40k
humm, but i feel the situation is improving. But what if they lose their jobs, there is no cutting short in luxuries and show-offs.
ReplyDeleteI feel by far, Emirates( and perhaps Kuwaitis) are the biggest show-offs.
I feel Dubai will bounce back soon.
Thanks:)))))))
It is good to be grounded in reality. We are not always 100% cheerful; we would be dishonest with ourselves if we just glossed things over and put a smile on our face. It's good to look at the reality of a situation but then create a plan for yourself to cope, then your smile and cheerful disposition is authentic and not harmful to you. Cheers Ramesh. I hope you have having a wonderful day. xox Namaste.
ReplyDeletethings didnt take such a bad turn in Muscat compared to UAE, but still the situation is that of no orders and mindless pressure. many are being given the letter and many are leaving everything behind including cars and loans to go back home. Hope things change soon
ReplyDeleteFeeling very bad to read this news. It is like this even here. No campus interview this time. Fresh graduates, who joined last year are sent home. No fresh openings also. The software companies are asking them to spend money for air tickets and go to the US or London. They will arrange for their stay, it seems. Children who borrowed money from the banks to complete their engineering, are very upset. They have to pay back the loan and need money for the dat-to-day expenditure till they get a new job, if they get one, in the recent future.
ReplyDelete"One in 10 residents have lost their jobs" - the situation sounds really bad, let us strongly hope for a better future...
ReplyDeleteMy neighbour in Mumbai recently shifted from Dubai, where the situation was so bad that many families just drove to the airport and took a flight home, leaving behind their cars and homes.
ReplyDeleteHope the situation improves soon.
I'm hoping too that things will improve soon. My daughter is in limbo-land waiting to land a job ... *sigh* in time...
ReplyDeleteWe all should recycle soda cans...it brings good change to our planet as well as our pockets :)
a very sad state of affairs. The problem is increasing with the hike in prices of food stuff, petrol. Hope things are ironed out soon..
ReplyDeleteYea..many of my friends went to Dubai in search of jobs and returned empty handed..through them we understood how serious recession is...in fact year before our batch passout,it was a silly affair to get a high paid job in the middle east if you are an engineer.No this are all different..I hear the only sector not affected in Oil sector.
ReplyDeletehehe, you re right, competition is tough, there are so many sexy men. :)))
ReplyDeleteconstruction sector always the first effected sector when there is an economical crisis but it also first improves.
ReplyDelete