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Unemployment rate in Saudi Arabia rises to record 12.9 pct in Q1

Gulf Arab Region | 2018-07-05 09:51:00
Unemployment rate in Saudi Arabia rises to record 12.9 pct in Q1
The unemployment rate among Saudi citizens rose to a record 12.9 percent in the first quarter of this year from 12.8 percent in the previous quarter, according to data published by the government's statistics agency Thursday.

The government is pushing through economic reforms to develop non-oil industries and create jobs, but tax hikes and other austerity measures designed to close a large state budget deficit are hurting many private sector employers.

Reuters
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