The unemployment rate among Saudis decreased to 14.9 percent in Q3 2020 from 15.4 percent in Q2 2020, compared to 11.8 percent in Q1 2020, according to data from the Saudi General Authority for Statistics. In addition, unemployment rate among males and females stood at 7.9 percent and 30.2 percent, respectively in the same period. Meanwhile, unemployment rate among all
The participation rate of Saudi nationals in the workforce edged up to 49 per cent, from 48.8 per cent in the prior quarter, the data showed.
Saudi Arabia s economy will continue to recover this year, but with oil output being ramped up only gradually and fiscal policy to remain tight, the recovery is likely to be slower than in the other Gulf states , London-based Capital Economics said in a note on Friday.
The kingdom plans to spend 990 billion riyals ($264bn) next year, 7.5 per cent less than in 2020, and its fiscal deficit is set to narrow to 4.9 per cent of gross domestic product, King Salman bin Abdulaziz said when approving its 2021 budget last month. It is forecasting growth of 3.2 per cent this year.
Saudi Arabia has delayed the publication of jobs data for the third quarter, saying it needs more time to carry out a thorough analysis of the figures during the COVID-19 pandemic, the General Authority for Statistics said on its website.