Jobseekers coming to dubai to flee crunch

[PropGuy]

The UAE, and Dubai in particular, is attracting a lot of interest from UK jobseekers hoping to escape the effects of the global credit crunch, according to UK daily The Times.
“Middle Eastern recruitment companies are telling us there is a 300 per cent rise in the number of inquiries from European candidates,” said Spencer Hawkes, managing director of the UK’s Working In.
“People who’ve lost their jobs and have very high mortgages view the Gulf states as one of the few places they can go and still earn top salaries.”
Bayt.com CEO Rabea Ataya told 7DAYS the number of daily visitors to the jobs web site had increased by 50 per cent since August.
“We are seeing more and more extremely competitive, high quality CVs attempting to relocate from US and European markets to the region,” he said.

7DAYS - Jobseekers come to flee crunch

 

[PropGuy]

I posted this because there are lot of dubai doom posts going around, while in fact there is financial crises all over the world and Dubai is still in relatively better financial position.

 

[sasherwani2]

Jobs in Dubai? Good one.

 

[PropGuy]

Jobs in Dubai? Good one.

Jobs are not available anywhere in the world at the moment, but Dubai is still relatively better. I know few people moving to Dubai from NYC.

 

[dubister]

Jobs are not available anywhere in the world at the moment, but Dubai is still relatively better. I know few people moving to Dubai from NYC.

Jobs in the U.S are as strong as always. I am from here and know tons of people there. I know new college grads landing 70K+ USD/year jobs left and right. People are opening new businesses every day. What you hear in the news form the U.S is not average; there there is a system and huge sub economies... People moving from there is normal movement, as we have seen in the years...nothing of an indicator that you or claiming. 7 DAYS is useless paper.

 

[sasherwani2]

Jobs in the U.S are as strong as always. I am from here and know tons of people there. I know new college grads landing 70K+ USD/year jobs left and right. People are opening new businesses every day. What you hear in the news form the U.S is not average; there there is a system and huge sub economies... People moving from there is normal movement, as we have seen in the years...nothing of an indicator that you or claiming. 7 DAYS is useless paper.

What about CNN? Is it a reliable source or should we stick to the tons of people you know?

Jobs lost in 2008: 1.2 million
Payrolls shrink by 240,000 in October, 10th straight month of cuts. Unemployment soars to 6.5%

Source:

This year's job loss total: 1.2 million - Nov. 7, 2008

 

[PropGuy]

Jobs in the U.S are as strong as always. I am from here and know tons of people there. I know new college grads landing 70K+ USD/year jobs left and right. People are opening new businesses every day. What you hear in the news form the U.S is not average; there there is a system and huge sub economies... People moving from there is normal movement, as we have seen in the years...nothing of an indicator that you or claiming. 7 DAYS is useless paper.

Jobs in US are very weak, perhaps weakest since great depression.

State's walk-in centers, phone lines overwhelmed

A surge in layoffs at Massachusetts companies is straining the state's ability to process unemployment claims, leading to lengthy lines at local walk-in centers and long waits for those filing by phone - if they can get through at all.

For jobless, long waits to file claims - The Boston Globe

This region is still looking better.

Bankers target Dubai for jobs

With layoffs becoming almost routine in the banking industry, options for financial professionals are dwindling. Many are circulating their resumes around the fast-growing market of Dubai.

Scott Jagow: When you add up all the layoffs -- Citigroup's 52,000, JP Morgan Chase several thousand, there's a long list -- there are a lot of people in the financial industry out of work. One report says the industry could eliminate more than 350,000 jobs worldwide by next year. So what's a banker to do? Where, there's always Dubai, but be sure to bring a big stack of resumes.

Kelly McEvers: Last year, when the credit crunch began in earnest, the saying at financial firms was "Dubai, Mumbai, Shanghai, or goodbye." Meaning if you wanted to keep your job, you had to be shipped off to one of these emerging markets.

Now that things have gotten worse, people are having to make the move themselves. Which brings us to the tale of two Wall Street investment bankers.

Banker number one is Long Pham. He first considered leaving Bank of America this spring. A mentor suggested Dubai, which was becoming a major financial services hub.
Marketplace: Bankers target Dubai for jobs

But with Wall Street in tatters and London struggling as the credit crisis plays out, lawyers and analysts say that the most promising places for legal careers are such far-flung locales as Dubai, Abu Dhabi and Hong Kong. Even though Dubai’s booming economy has cooled sharply recently, lawyers say demand for their services remains strong there, and other overseas markets are still beckoning lawyers despite the global impact of the credit crisis — at least for now.

When work was plentiful at home, it was often a tough sell to get lawyers to move halfway around the world. But since the financial unraveling in September, that’s all changed. In the last two months, recruiters in Hong Kong and Dubai say they’ve seen a record number of New York résumés from candidates looking for law-firm or in-house legal work overseas.

http://www.nytimes.com/2008/11/23/business/23law.html?ref=business

 

[sasherwani2]

Jobs in US are very weak, perhaps weakest since great depression.


This region is still looking better.

Ofcourse the demand for civil, criminal and property related lawyers will get very strong in Dubai due to the infinite number of law suits and legal cases filed against the developers. But will not save Dubai from a high unemployment rate which is bound to be witnessed in the next 3-6 months.

 

[georgihh]

What about CNN? Is it a reliable source or should we stick to the tons of people you know?

Jobs lost in 2008: 1.2 million
Payrolls shrink by 240,000 in October, 10th straight month of cuts. Unemployment soars to 6.5%

Source:

This year's job loss total: 1.2 million - Nov. 7, 2008

What is 1.2 million from 300 million populations – nothing?
6.5% very acceptable AND NOTHING TO WARRY
If you want a job in USA you can get plenty no problem
And houses for 200000$, salaries of 70-100k
And this is recession.
This is not recession this is just a way to slow down the world economy as already overheated.
America is Number one and will be for the next 25 years
Dubai is a bubble and will go back to normal

 

[sasherwani2]

What is 1.2 million from 300 million populations – nothing?
6.5% very acceptable AND NOTHING TO WARRY
If you want a job in USA you can get plenty no problem
And houses for 200000$, salaries of 70-100k
And this is recession.
This is not recession this is just a way to slow down the world economy as already overheated.
America is Number one and will be for the next 25 years
Dubai is a bubble and will go back to normal

This post should be declared "the post of the month".

Does your Crystal globe show you an image of the country that will be number 1 after 25 yrs?
How does a bubble go back to normal?

 

[georgihh]

This post should be declared "the post of the month".

Does your Crystal globe show you an image of the country that will be number 1 after 25 yrs?
How does a bubble go back to normal?

Thanks for the complement

The bubble goes back to normal in two ways
1.Can shrink and becomes a ball with hard coat
2.Can burst and create small bubbles (some of them will disappear some of them will start growing up again).

Regarding the Number one even your favorite one CNN are saying that USA doesn’t want to be Number One and will try to pass the ball to India and China in the next 25 years

 

[TommyC]

Unemployment rate in Dubai? Unless you are a local, you basically can't be unemplyed here. You are either a tourist or on your way home if you don't have a job/sponsor. Was an article just one or two days ago: NO EXTENSIONS ON VISAS AFTER LOSING JOBS = 30 days after you get fired/lose your job, you're out.

 

[dubister]

What is 1.2 million from 300 million populations – nothing?
6.5% very acceptable AND NOTHING TO WARRY
If you want a job in USA you can get plenty no problem
And houses for 200000$, salaries of 70-100k
And this is recession.
This is not recession this is just a way to slow down the world economy as already overheated.
America is Number one and will be for the next 25 years
Dubai is a bubble and will go back to normal

exactly, and that 1.2 million is mostly coming from the hourly, non-salaried, bums etc... And also don't forget Monster alone boasts about 1 million jobs. And as you may heard Obama has planned to create 2.5m jobs... and i am 200% confident he will do it. All he has to do is announce, nationwide infra upgrade, whcih hasn't been done for the last 10 years or so. That itself would be huge...

 

[PropGuy]

Ofcourse the demand for civil, criminal and property related lawyers will get very strong in Dubai due to the infinite number of law suits and legal cases filed against the developers. But will not save Dubai from a high unemployment rate which is bound to be witnessed in the next 3-6 months.

In the quote, bankers are moving here too.

 

[monsi]

Goodness which ledge does he want us to jump off?

In the quote, bankers are moving here too.

There is no point in trying to calm sasherwani2 down. He has a major downer on Dubai and there is no lifting it.

If you feel you are possibly too positive about the future, or even mildly non-committal because you want to see what happens next, then you should read all his posts. They are designed to engender thoughts of suicide with a blunt rusty knife if you live or have invested in Dubai. I think he is trying to be an antidote to the Samaritan hot line.

 

[sasherwani2]

There is no point in trying to calm sasherwani2 down. He has a major downer on Dubai and there is no lifting it.

If you feel you are possibly too positive about the future, or even mildly non-committal because you want to see what happens next, then you should read all his posts. They are designed to engender thoughts of suicide with a blunt rusty knife if you live or have invested in Dubai. I think he is trying to be an antidote to the Samaritan hot line.

Nakheel lays off 500+ people.. facts dear these are facts..

Gulfnews: Nakheel scales back projects, announces job cuts