Unemployment in Saudi Arabia

Saudi Arabia Unemployment | Economic News & Forecasts

Saudi Arabia - Unemployment

The economy benefited from increased crude oil production and higher prices for the black gold in the third quarter, prompting GDP to expand at the fastest pace in two-and-a-half years. Although growth in non-oil private activity accelerated slightly, it remained low compared to historical figures. Subdued dynamics in the private sector, a rising unemployment rate and low levels of foreign investment are casting doubts over the much-trumpeted Saudi Vision 2030. In order to shore up economic growth, on 18 December, the government announced an expansionary budget for 2019, which focuses on boosting capital expenditure. Analysts, however, warn that the projected revenues could be on the optimistic side. While the implied price is about USD 70 per barrel, oil prices have fallen in recent weeks and hit an over one-year low of USD 50.1 per barrel on 26 December.

Saudi Arabia - Unemployment Data

2013  2014  2015  2016  2017  
Unemployment Rate5.6  5.8  5.7  5.6  5.9  

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Saudi Arabia Unemployment Chart


Saudi Arabia Unemployment
Note: Unemployment in % of active population.
Source: Central Department of Statistics and Information.

Saudi Arabia Facts

ValueChangeDate
Bond Yield2.490.0 %Jun 23
Exchange Rate3.750.0 %Jan 14
Stock Market0.21.00 %Jan 14

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