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FINANCIAL NEWS
Saudi wages jump by 4.5 percent
06 May 2016
(MENAFN) Saudi wages have grown by an average 4.5 percent through the previous year, while the forecasted rate was set at a bit higher 5 percent, based on recent reports.
Regardless to the economic insecurity caused by dropping oil prices and the poor performance of global markets, top increases have been seen by lower level workers with 5.7 percent.
According to the survey which was conducted lately on the matter, over 50 percent of employees surveyed have stayed with their current company for more than five years.
“With inflation at 2.6 percent, these increases represent a growth of 1.9 percent in employees’ real spending power,” said the Hay Group’s Regional Manager for Services.
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