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FINANCIAL NEWS
Kuwait records 2.9 percent unemployment rate for 2014
21 Jul 2015
(MENAFN) Kuwait’s economy recorded an unemployment rate of 2.9 percent for 2014, against 2.5 percent and 1.8 percent in 2008 and 2003, according to a report by the Central Statistical Bureau’s Labor Market Information System, Kuwait Times reported.
Furthermore, the report indicated that the labor force participation rate in Kuwait has hit 72 percent this year, and that a participation rate of 86.7 percent, which is the highest in history, was recorded last year for the age group 25-34.
The report also specified that 20.1 percent of employees in Kuwait are working in the government sector and 4.4 percent of them work in companies owned by the state, against 59.6 percent employees in the private sector.
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