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FINANCIAL NEWS
Saudi unemployment rate at 10.5%
04 Apr 2012
(MENAFN) Saudi deputy minister of labor, Mifarih Al-Huqbani, said that jobless rate in the Kingdom stands at 10.5 percent at the current time, with 448,000 unemployed people, reported Arab News.
Al-Huqbani added that the country should impart education that best suits the needs of labor market, create job opportunities, coordinate between ministries, and upgrade technical and other skills among the youth in order to reduce unemployment rate.
He also said that the Kingdom has over 8 million foreigners working in private sector companies, sending around USD26.12 billion to their countries each year.
It is worth noting that jobless rate in the UAE is at 12.7 percent, whereas that of Jordan is at 11.9 percent, however, it stands at 8.3 percent in the US, at 8.4 in the UK and 11.7 percent in France, according to Al-Huqbani.
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