Thursday, June 2, 2011

Saudi unemployment rate hits 15%

Adel Faqih, the Saudi Minister of Labor said the new "bands" program which is expected to be applied soon will stop 99% of the corruption involved in the visas trading activity in the Kingdom.

The Minister of Labor held a meeting with businessmen in Jeddah in order to share details of the new system. He stressed that the situation in the Saudi private sector does not exist in any other country in the world, where 90% of the employees are foreign, while Saudi nationals do not represent more than 10% of the labor force.

Saudi bankers at the NCB bank in Jeddah
� 2011 Al Bawaba (www.albawaba.com)

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Source: http://www1.albawaba.com/main-headlines/saudi-unemployment-rate-hits-15

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