Saudi unemployment rises 12% in Q3 to four-year high

Unemployment levels in Saudi Arabia rose to 12.1 percent in the third quarter of 2016, a four-year high, although employment growth remained positive, according to new data from Jadwa Investment.

Its latest research note on the Gulf kingdom’s labour market said the overall participation rate rose to a record high, reaching 42 percent, pushed up by higher participation from both Saudi males and females.

Jadwa said during the first three quarters of 2016, total net employment in the kingdom saw a significant rise of 892,000, compared with a 417,000 increase between 2014 and 2015.

However, Jadwa added that 95 percent of these positions went to non-Saudis, a blow to the country’s efforts to encourage more locals into the private sector workforce… see more

source: arabianbusiness

21