Saudi Arabia’s booming economy is translating to a strong job market in the Kingdom both for expats and citizens alike, according to a report in Bloomberg, which cited latest data from the kingdom’s General Authority for Statistics.The private sector added more than 250,000 jobs for non-Saudis during the fourth-quarter of last year, data show. Citizens also benefited, with more than 83,000 jobs added for Saudis in the private sector and nearly 24,000 in government. According to Bloomberg, unemployment among nationals dropped to 11%, the lowest level since 2009.
The jobless rate rose to 22.5% for Saudi women and declined to 5.2% among Saudi men. This is a significant reversal from mid-pandemic highs, when unemployment for citizens reached above 15%.
Creating a strong job market in Saudi Arabia is one of the long-term goals of the Kingdom’s Vision 2030 economic and social reform plans.
Some forecasts put Saudi Arabia’s GDP growth in 2022 as high as 7.7% in 2022, after growing 3.3% in 2021.
