A study conducted by the World Bank in conjunction with the Saudi Ministry of Planning showed that Saudis are the least paid in the private sector in GCC and EU countries. The average salary of Saudis is SR 6,400 per month while the GCC national average is SR 15,200.
Abdul Aziz Al-Owaishiq, minister plenipotentiary to the Gulf Cooperation Council and head of the International Economic Relations at the council, admitted that Saudis are the least paid among the GCC countries and that Saudi Arabia has the highest unemployment rate which stood at 12.2 percent in 2012.
He said that the majority of unemployed citizens are university graduate degree holders. Al-Owaishiq suggests that the Ministry of Labor should invest more in its new programs, such as Nitaqat and Hafez, to provide jobs that meet higher education outcomes. He also said that universities should provide students with skills that are needed most by the job market.
Read more: http://www.zawya.com/story/Saudi_private_sector_pays_the_least_among_GCC_nations-ZAWYA20130213031205/
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