Saudi Q1 job­less rate rises 12.7pc

New Straits Times - - Business / World -

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.

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