Search and Find

Okay I put in a Google search on Cost of Living. What turned up is interesting.

With the US economy bordering on recession and European economies struggling to maintain their pace of growth amidst record oil prices and rising global inflation, more Westerners are heading for Saudi Arabia and the Middle East in search of jobs and a cheaper cost of living.

“My family and I have been living and working in Riyadh and Jeddah for the past seven years,” said Diana, a nurse from Hawaii who works at a government hospital. “Despite local complaints about the high cost of rent and food in the region, it is still better living here in terms of housing and utilities rates, and food and fuel costs. In the US, many people have lost their jobs due to numerous company layoffs,” she added.

According to a recent Bloomberg survey, the US unemployment rate climbed to 5.2 percent in April from 5.1 percent the previous month.

The survey also showed that the rate of economic growth has also slowed to its lowest level since 2001 in the past six months. Currently, the economic situation of the basic consumer is worsening as home foreclosures surge, gas prices approach $4 a gallon and food prices mount.

As a result, US Federal Reserve Chairman Ben Bernanke conceded for the first time that a recession is possible, while deciding to cut interest rates yet again by a quarter point increasing the rate to 2 percent.

As I really plan not to stay in this country if the GoPervs manage to return to power, this interests me. I have another country in mind, but the advertisement of other countries for expats is not that surprising. Our future has been sold out.

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