Saudi Q1 jobless rate rises 12.7pc

Saudi Arabia’s unemployment rate rose to 12.7 per cent in the first quarter this year, continuing its climb as the economy grappled with low oil prices, data showed on Sunday. The rising number of unemployed highlights the challenge Riyadh faces in meeting pledges to create jobs amid an economic slowdown. The jobless rate was more than a full percentage point above where it stood in the same quarter of last year, when its Crown Prince Mohammed Salman announced Vision 2030 plan to diversify the economy.