Saudi Arabia records the highest-ever unemployment rate

Unemployment among Saudi citizens edged up to a record 12.9% in the first quarter of this year as private employers struggled under the weight of a new tax and a domestic fuel price hike, official data showed on Thursday.

Despite ongoing efforts to create more work opportunities, Saudi Arabia witnessed the highest-ever unemployment rate among its citizens in the first quarter of 2018.

Based on data collected as early as 1999, this marks the highest rate ever documented by the official statistics agency, The Daily Star reported.

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The unemployment rate among Saudi nationals stood at 12.7 percent in the first quarter of 2017. The rate then rose to 12.8 percent, which was prevalent for three quarters, before reaching 12.9 percent in the first quarter of 2018.

Meanwhile, the unemployment rate among non-Saudis has increased from 0.7 percent in the fourth quarter of 2017 to 0.9 percent in the first quarter of 2018.

The study also found that the employment rate among Saudi women has decreased from 31.1 percent in the fourth quarter of 2017 to 30.9 percent in the first quarter of this year.

 

Source Credit: StepFeed

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