Unemployment in Saudi Arabia
Saudi Arabia - Unemployment
The 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
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Unemployment Rate | 5.7 | 5.9 | 5.7 | 5.6 | 5.9 |
Saudi Arabia Unemployment Chart
Source: Central Department of Statistics and Information.
Saudi Arabia Facts
| Value | Change | Date | |
|---|---|---|---|
| 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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Economic News
Saudi Arabia: Non-oil PMI softens in July but remains well in positive territory
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.
Saudi Arabia: Drop in consumer prices continues to moderate in June
July 23, 2019
Consumer prices rose 0.2% over the previous month in June, following May’s 0.1% increase.
Saudi Arabia: Non-oil PMI continues to climb in June
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.
Saudi Arabia: Oil production cuts weigh on economic growth in Q1
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.
Saudi Arabia: Trade tensions continue to weigh on oil prices in June
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.
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