Saudi unemployment expected to grow
“The excessive dependence on foreign labor led to an increase in unemployed Saudis”, said Dr. John Sfakianakis, general manager and chief economist at the Saudi-French Bank , in an exclusive interview with Al-Riyadh Economic on the ineffectiveness of “Saudization” addressing unequal employment opportunities available to citizens and foreigners.
Estimates by the Business Forum, revealed that the Saudi labor market will have about eight million unemployed by 2030, and stressing the importance of cooperation between the relevant ministries (Commerce, Industry and Labour) and chambers of commerce to achieve the government’s strategy to localize functions in the private sectors.
During the first meeting of the Forum Jeddah, HR 2011, the Minister of Labor, Adel Bin Mohammad Fakih, said that the Saudi Employment Strategy is to provide productive employment opportunities for local citizens.
Sheikh Saleh Bin Ali Al Turki, chairman at Nesma company, affirmed that the habits and behaviors of youth influence job acceptance. He also emphasized the importance of promoting women’s role in society, criticizing a family’s reliance on a single income. (Source: www.yallafinance.com)