Saudi Labor Market Update: Unemployment and participation fall

According to data recently released by the General Authority for Statistics (GAS), the Saudi unemployment rate fell slightly from 11.7 percent in 2014 to 11.5 percent in 2015. This fall was mainly attributed to a decline in Saudi labor force participation rather than higher employment growth, as job creation for Saudis have actually slowed during the year. Looking ahead, we expect the private sector to be the main source of new jobs for Saudis, supported by continued labor market reform.