Saudi Arabia’s unemployment rates seen healthier in Q4 2019
Tuesday, 01 28 2020, Category: Economy, Country: Saudi Arabia
Minister of Economy and Planning Mohammad Al-Tuwaijri said that unemployment rates for the fourth quarter of 2019 are seen healthier than Q3 2019 rates, Al Arabiya TV reported.
He added that the results will be announced within weeks.
Al-Tuwaijri pointed out that the majority of jobs occupied by Saudis are in the private sector, stressing the ministry’s keenness to achieve sustainability within the workforce.
He also noted that the ministry’s key priority for 2020 entails developing the human capital to address unemployment-related challenges, through providing the right education and skills that fulfill the job market requirements.
Al-Tuwaijri further added that the ministry also prioritizes the economic diversification policy, such as including enhancing exports and manufacturing, designing long-term economic policies, as well as opening up to new sectors such as tourism and sports.
Data from the Saudi General Authority for Statistics showed that unemployment rate among Saudis dropped to 12% from 12.3% quarter-on-quarter in Q3 2019, according to data compiled by Argaam.