Bloomberg News

Saudi Arabia to Pay Unemployment Benefits From November

October 02, 2011

Oct. 2 (Bloomberg) -- Saudi Arabia, which had a 10.8 percent unemployment rate in July, will begin to pay unemployment benefits for the first time from November, Labor Minister Adel Fakieh said today in Jeddah.

The government from next year also will seek to encourage the hiring of more Saudi nationals in the kingdom’s private sector, Fakieh said.

The government plans to sign agreements with Saudi banks in 2012 to monitor the wages of Saudis and foreign workers to ensure nationals are earning salaries that increase in line with the cost of living, Fakieh said.

The Ministry of Labor in March initiated efforts to reduce unemployment and offset anger among citizens amid the “Arab Spring” demonstrations that have swept North Africa and the Middle East.

--Editor: Dick Schumacher.

To contact the reporter on this story: Sarah Abdullah in Jeddah via the Dubai newsroom at contact the editor responsible for this story: Maher Chmaytelli at mchmaytelli@bloomberg.net


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