RIYADH – Thirty percent of unemployed youth in Saudi Arabia are aged 19 to 25 years, according to a study conducted by the Gulf Investment Corporation. The same age group account for 23 percent of the unemployed in Bahrain, 24 percent in Oman and the United Arab Emirates, and 12 percent in Kuwait. The unemployment rate among Saudi youth increased by 10.5 percent, the study said. In the UAE, it increased by 14 percent and by 8 percent in Oman and Bahrain. Unemployment decreased by 6 percent and 3 percent in Kuwait and Qatar respectively. The study also said the GCC economy relies heavily on oil and gas as its main source of revenue and that member states spend their income on development programs that create job opportunities and increase economic growth. They also invest some of their income in improving living conditions, education, healthcare services and welfare services for the elderly and retired. The study said economic development projects and programs have succeeded in improving living conditions but failed to create sufficient job opportunities for citizens. The study said although the majority of jobless youth have academic degrees, they could not find jobs. This was an issue of high concern, especially if there were perceptions that graduate students did not meet the requirements of the labor market, the study pointed out. This problem has caused productivity rates in GCC countries to decrease and citizens to opt for public sector jobs. It has also caused the private sector to rely heavily on foreign labor and low-skilled labor. The study said the number of female graduates has been increasing and this will lead to a rise in unemployment as well because there are no job opportunities for them. The causes of high unemployment rates can be attributed to demographic, economic and educational factors. The population, especially among young people, has been increasing over the past few years and a large number of young people are searching for jobs. — SG
