Positive Performance of Dubai Job Market Boosts Confidence of Residents

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The consumer confidence survey for the 3rd quarter of 2013 released by the DepartmentPositive Performance of Dubai Job Market Boosts Confidence of Residents of Economic Development (DED) showed that despite the turbulence elsewhere in the region, residents are now more confident that the job market and economy would perk up even more.
Findings presented that the booming industry of tourism and real estate market are the major causes for this high buoyancy.
92 % of the residents said that the job market will be sunnier while 84 per cent remained positive about personal finance.
The overall Consumer Confidence Index for July-September 2013 remained constant at 143 points, as in the previous quarter, continuing the positive trend of the last five quarters. In the previous quarter, 23 per cent had felt the economy was still under the cloud of recession.
Nearly 42 per cent believe they will see an excellent economy during the next 12 months while 73 per cent foresee a strong recovery, up from the 67 per cent in the second quarter.
While the majority of consumers — 86 per cent — is able to cover essential living expenses, families are increasingly aware of the need to put aside something for a rainy day.
About 2,000 respondents of nationals and expatriates ages 18 to 59 from all major residential communities across Dubai partake the survey.