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Saudi Arabia fails to reduce unemployment to 5.5 per cent

New federal body, Commission for Job Generation and Anti-Unemployment, created to tackle challenge

The Saudi Ninth Development Plan 2010-2014 failed to achieve its goal in terms of reducing the unemployment rate among Saudis from ten per cent to 5.5 per cent by the end of 2014.

An analysis by Saudi journalists published recently says that the unemployment rate among Saudis by the end of 2014 is nearly 11.7 per cent, 6.2 per cent more than the plan’s target, reports UAE-based Al Bayan.

The Tenth Development Plan 2015-2019 aims at reducing the unemployment rate from the 11.7 per cent recorded in 2014 to 5.1 per cent by the end of the plan in 2019.

In an attempt to contain the problem of unemployment, the Saudi Cabinet, on October 12, approved the creation of a new federal body to tackle this challenge – the Commission for Job Generation and Anti-Unemployment. The commission will work in tandem with the Council on Economic and Development Affairs (CEDA).

The Tenth Development Plan includes six mechanisms that aim to provide new job opportunities for citizens, reduce unemployment and increase participation in the national labour force.