By Andy Sambidge
Half of those quizzed say family, close friend have lost their jobs in past 3 months.
More than half of UAE residents questioned in a survey said a member of their family or a close friend had lost their jobs in the past three months.The findings of YouGov's Reality Check - UAE, a monthly research report published on Monday, quizzed 779 UAE residents between January 20-29.
More than half (55 percent) said either a close friend or member of their family has lost their job in the last three months, a dramatic rise from the previous month's benchmark where only one-third (36 percent) reported the same.
The brunt of the losses, according to the survey, were felt in the real estate/construction and banking/finance sectors, as they were the previous month.
However, nervousness about job security had only increased by four percent. 54 percent of those interviewed were worried about losing their jobs, compared to 50 percent the previous month.
Nassim Ghrayeb, CEO of YouGov, said: "The next few months are going to be difficult for most businesses. What we are trying to provide here is a genuine perspective on how people are behaving based on real figures.
"All companies can play their part in re-instilling confidence in the economy. Although nervousness about job security has not increased that dramatically the level is still high and this figure will need to come down if consumer spending is to resume to previous levels."
The survey also revealed that 74 percent of respondents indicated they did not expect their salary to increase as much this year compared to 2008.
Another 46 percent indicated that the current economic climate in the UAE was making them consider relocating to another country - a rise from 38 percent compared to December.
Its a recession if your neighbor or friend loses their job. Its a depression if YOU lose your job. My dear friends, this is a depression.