Unemployment rate among Saudis is expected to fall to 12 percent in 2018 compared to a rate of 12.8 percent in Q2 2017, the ministry of economy predicted in its annual budget plan for 2018.
The rate will continue to decline gradually supported by economic growth, the implementation of expat fees, replacement programs, and multiple initiatives to eventually decline to about 10.6 percent by 2020.
Those rates may decline further in conjunction with achieving desired results of replacement programs in a number of sectors and economic activities, the ministry added.
|
Unemployment Rates in Saudi Arabia |
|
|
Year |
Rate |
|
2011 |
12.4% |
|
2012 |
12.1% |
|
2013 |
11.7% |
|
2014 |
11.7% |
|
2015 |
11.5% |
|
2016 |
12.3% |
|
2017 |
12.6% |
|
2018 |
12.0% |
|
2019 |
11.2% |
|
2020 |
10.6% |
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