Saudi unemployment rate likely to drop in 2019: minister

19/12/2018 Argaam

 

The unemployment rate in Saudi Arabia is expected to drop in 2019, the Minister of Economy and Planning Mohammed Al Tuwaijri, said on Wednesday.

 

“The labor market will undergo a comprehensive restructuring. Additionally, new displacement and technical policies will be adopted by the Ministry of Labor and other ministries,” Al Tuwaijri said during the press conference on Saudi Arabia’s 2019 budget.

 

According to the latest set of data from the Saudi General Authority for Statistics, the unemployment rate among Saudi Arabian citizens dropped to 12.8 percent quarter-on-quarter in Q3 2018.

 

“We also care about economic diversification and continuous growth. The number of Saudis looking for jobs every year ranges between 300,000 and 400,000,” the minister added.

 

The Ministry of Labor and Social Development will also launch more than 68 initiatives to boost displacement across the Kingdom.

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