Depending on your qualifications, experience and the type of work you are looking for, I am sure even in a global "depression" you should be able to find a good job. Personally, these days employer's are looking very closely to what their needs are for the next 8-10 months and what you can offer them. People with 5-8 years of solid experience in engineering and IT consulting should have no problem. Fresh grads(depending on where they graduated from) may have a tough time. Lot of people with western education and qualifications are moving to Qatar after worldwide slow down and that sort of reduces chances for people from middle east, subcontinent & south east asia. That said, jobs are there and it all depends on what the employer needs are.