💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Unemployment rate among Saudis rises to record 12.9 percent in first quarter

Published 07/05/2018, 04:28 AM
Updated 07/05/2018, 04:30 AM
© Reuters. Workers are seen at the solar plant factory in Uyayna, north of Riyadh

DUBAI (Reuters) - The unemployment rate among Saudi citizens rose to a record 12.9 percent in the first quarter of this year from 12.8 percent in the previous quarter, according to data published by the government's statistics agency on Thursday.

© Reuters. Workers are seen at the solar plant factory in Uyayna, north of Riyadh

The government is pushing through economic reforms to develop non-oil industries and create jobs, but tax hikes and other austerity measures designed to close a large state budget deficit are hurting many private sector employers.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.