An interesting read for a Singaporean. We share very similar job stimulus environment with Dubai in that the government employs a large number of people. Alot of us are employed by either GLC or Temasek Link companies if not the government. So what happens if the country’s government mismanages?
DUBAI (Zawya Dow Jone)–Almost a fifth of workers in the United Arab Emirates lost their jobs this year as construction firms hit by the global financial crisis cut back amid a near 50% fall in property prices, a survey showed Tuesday.
A total of 16% of job cuts were made over the 12-month period to August, online recruitment firm Gulf Talent said in its annual survey of labor market trends in the Gulf region.