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FINANCIAL NEWS
Study says Saudi jobless rate at 12.2%
27 Jan 2013
(MENAFN) An official research estimated Saudi Arabia’s jobless rate at 12.2 percent of the local population, Arabian Business reported.
The study was conducted by the Central Department of Statistics and Information on 29,000 families in the Kingdom.
The study estimated the total number of employed Saudis at 4.2 million, representing 87.8 percent of the Saudi labour force.
The government is implementing measures to involve more Saudis in private sector jobs and reduce foreign workforce there.
Expatriates dominate the private sector jobs. Roughly nine in ten employees of private firms in Saudi Arabia are expatriates, according to official estimates.
The study, which polled Saudi citizens over the age of 15-years old, showed a huge disparity in education levels between men and women.
While 35.5 percent of the male work force holds a secondary or equivalent certificate, 66.9 percent of women have bachelor degrees.
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