Unemployment in Saudi Arabia
Saudi Arabia - UnemploymentThe economy appeared to strengthen slightly in the second quarter as momentum in the non-oil private sector improved—the sector’s PMI reading averaged notably higher in Q2 than it did in Q1. Moreover, in June, the non-oil private sector PMI climbed to its highest reading in one-and-a-half years, supported by new orders from both within Saudi Arabia and abroad. The oil sector, however, had another downbeat performance in Q2, as production was down from the same period a year earlier; with OPEC+ countries deciding to extend collective oil production cuts until March 2020 on 1–2 July, the fortunes of Saudi Arabia’s oil sector are unlikely to improve in the short term. Meanwhile, the labor ministry announced on 26 July that certain hospitality jobs will soon be restricted to only Saudi citizens, in the latest attempt to decrease unemployment among natives.
Saudi Arabia - Unemployment Data
5 years of economic forecasts for more than 30 economic indicators.
Saudi Arabia Unemployment Chart
Source: Central Department of Statistics and Information.
Saudi Arabia Facts
|Bond Yield||2.49||0.0 %||Jun 23|
|Exchange Rate||3.75||0.0 %||Jul 31|
|Stock Market||0.2||1.00 %||Jul 31|
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August 8, 2019
The Purchasing Managers’ Index (PMI), produced by IHS Markit, fell from June’s 57.4 to 56.6 in July and marked the lowest reading since February.
July 23, 2019
Consumer prices rose 0.2% over the previous month in June, following May’s 0.1% increase.
July 3, 2019
The Purchasing Managers’ Index (PMI), sponsored by Emirates NBD and produced by IHS Markit, rose from May’s 57.3 to 57.4 in June.
June 30, 2019
Economic growth decelerated sharply in the first quarter as Saudi Arabia took on the lion’s share of the oil production cuts agreed with other key producers.
June 27, 2019
Oil prices extended losses in June on the back of rising uncertainty about world economic growth and global oil demand amid intensifying trade tensions between the U.S. and China.