The failure of the Saudization program in reducing Saudis’ unemployment rate was caused by factors such as Saudis’ lack of skills and work ethics, mismatch between acquired skills and required skills, lack of strategic planning by the government and the private sector, increased costs to the private sector, socio- …
How is Saudi Arabia addressing its high unemployment rate?
Securing 50 percent of Saudis will seek to be employed in the private sector by 2020. Reducing the unemployment rate for Saudi citizens 9 percent (currently at 12.8 percent) by 2020. Reaching 28 percent women in the labor force (currently at 23 percent).
Is Saudi Arabia a developed country?
According to the definition of the International Monetary Fund (IMF), Saudi Arabia is one of the developing countries because of its lower economic performance. With an Human Development Index (HDI) of 0.854 Saudi Arabia counts as one of the high developed economies by UN-definition.
Are there any young people unemployed in Saudi Arabia?
So, it is clear that the young generation in Saudi Arabia don’t have to worry about bank loans to complete their college education. In other words, the Saudi youth are many steps ahead of others in the world. Many young Saudis are unemployed. But, are the doors closed? No, they are not.
Why did Saudi Arabia have an economic boom?
Economic booms don’t last forever. And since the foundation of the modern-day Saudi Arabia in 1932, the Saudi government took care of the old and the young. It provided free education, free health-care and on top of all these, did not impose income tax.
Is the Saudi government trying to employ Saudis?
The government has announced many measures to employ Saudis, but the efforts need cooperation between the government and the youths. There is Nitaqat and labor rules requiring the companies to hire Saudis. But, the Saudis are not taught at an early age the importance of work ethic.
What are the causes of unemployment in urban areas?
Unemployed people in rural areas are also heading towards urban areas. It has been the prime reason behind the urban unemployment. Also, people in urban areas that are not satisfied with their job profile and earnings are part of urban employment. There are some different forms of urban unemployment are there-
