According to the latest figures disclosed by Saudi Arabia’s General Authority for Statistics (GaStat), show that in Quarter 2 of 2020, which has been the lockdown time, 19,000 expats lost their jobs.
Also in Q2 only 32,000 new work visas were offered by the private sector for the expats while in contrast to the 342,000 issued during Q1. However, none of the issued visas could be utilized.
It is also stated by Jadwa that most sectors saw a decline in the labor force. The worst kind of decline in the Q2 had been seen in the private educational sector. The wholesale and retail and professional activities, also witnessed a declining trend, not only in KSA but around the world.
It is however expected that countries would gradually improve their economic statistics. It is speculated that Saudi Arabia would observe improvements in its unemployment rates in the coming months.
The unemployment rate in Q1 had been 11.8% while it was 15.4% in Q2!
Source: Gulf News
For the latest updates, you can join our WhatsApp group.