A recently released report by Jadwa Investment, citing latest government data, shows major gains in curbing high youth unemployment in the Kingdom.
Overall unemployment declined slightly in Saudi Arabia by the end of 2018, to 12.7 percent by the end of 2018, from 12.8 percent in 2017, according to data from the latest General Authority for Statistics (GaStat) labor market release.
But major improvements were seen in youth unemployment figures. Total youth unemployment (20-24 years old) declined
notably, from 42.7 percent in 2017 to 36.6 percent in 2018, Jadwa found.
More positive data was seen in female participation in the labor force. Female labor force participation continued to rise, reaching 20.2 percent in 2018, up from 19.4 percent in 2017.
The data shows that the total number of foreigners in the Saudi labor market declined by around 1.6 million since the start of 2017, with around one million leaving the market during 2018.