Unemployment in Saudi Arabia
Saudi Arabia - Unemployment
In January, Saudi Arabia continued to lead the voluntary oil production cuts agreed upon with other OPEC and non-OPEC members, with output decreasing by 350,000 barrels per day in the month. While the deal is helping to tighten the global oil market, thereby pushing up oil prices, this is also hitting the performance of the all-important hydrocarbon sector. The non-oil sector, however, is gradually benefiting from the government’s more accommodative fiscal stance, as well from subdued inflation which is supporting private consumption. Meanwhile, in February, Crown Prince Mohammed bin Salman visited China, India and Pakistan, where he signed multibillion investment deals. This is reflective of the Kingdom’s attempts to strengthen ties with Asian nations—counterbalancing cooling relations with the West following the killing of journalist Jamal Khashoggi—as well of efforts to spur its economic transformation program.Saudi Arabia - Unemployment Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Unemployment Rate | 5.6 | 5.8 | 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 % | Mar 11 |
| Stock Market | 0.2 | 1.00 % | Mar 11 |
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Economic News
Saudi Arabia: Non-oil PMI continues to climb in February
March 5, 2019
The Purchasing Managers’ Index (PMI), sponsored by Emirates NBD and produced by IHS Markit, rose from 56.2 in January to 56.6 in February.
Saudi Arabia: Oil prices continue to climb on OPEC+ production cuts
March 3, 2019
Oil prices continued to recover in February as the oil production cuts implemented by OPEC and key non-OPEC members continue to tighten global oil markets.
Saudi Arabia: Consumer prices decline sharply in January
February 20, 2019
Consumer prices fell 0.3% over the previous month in January, following December’s 0.3% decline.
Saudi Arabia: Oil prices extend gains in January as OPEC+ cuts oil supply
February 5, 2019
Oil prices recovered briskly in January after they plunged to an over one-year low in late December, with the OPEC oil basket trading at USD 61.2 per barrel on 31 January.
Saudi Arabia: PMI climbs to an over one-year high in January
February 5, 2019
The Purchasing Managers’ Index (PMI), sponsored by Emirates NBD and produced by IHS Markit, rose from 54.5 in December to 56.2 in January.
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