Crown Prince says will increase quality jobs to 80% at 7% unemployment rate

Saudi Arabia’s Crown Prince Mohammed bin Salman said in a televised interview on April 27, 2021, that the Kingdom seeks a normal rate of unemployment between 4-7% within Vision 2030.

“So, once we get to the normal rate of unemployment, which we can fulfill before 2030, the next target will be to raise job quality to 80%,” the Crown Prince said.

Saudi Arabia has only 50% quality jobs, Prince Mohammed said, adding that these good jobs help citizens secure basic needs plus savings, while a bad one does not allow them to grow their wealth.

He also indicated that the tourism sector will create three million job opportunities from now until 2030, of which one million will be for Saudis while the other two million will be for expats due to different reasons.

“These jobs will be subject to Saudization later,” Prince Mohammed stated.

“Riyadh has nearly three million job opportunities, and we need to create about six million additional jobs there, as we target to increase population to 20 million,” he noted.

Riyadh makes for 50% of the Kingdom’s non-oil economy, which underpins a dire need to focus on the Saudi capital, being a significant growth catalyst, the Crown Prince concluded.