The trend of the unemployment rate in Saudi Arabia from 1991 to 2021 is highlighted in figure 7. It is observed by the figure that the rate of unemployment in Saudi Arabia follows a fluctuating trend.
It is revealed in figure 7 that the unemployment rate decreased sharply from 1992 and reached the minimum of 4.35 percent in1999 whereas a reversal in trend was observed and it started increasing rapidly and reached a maximum of 6.25 percent in 2006.
The unemployment rate then declined to 5.08 percent in 2008 and with some variations, it again continued to follow the increasing trend. In 2019 it declined and reached 5.67 percent. In 2020 it increased sharply and touched 7.45 percent due to the Covid-19 pandemic. In 2021 it however declined and reached 7.36 percent.
The trend of the natural rate of unemployment for Saudi Arabia from 1991 to 2021 is presented in figure 10.
It is observed by the figure that the rate of unemployment in Saudi Arabia follows a fluctuating trend.
The trend of the natural rate of unemployment is analogous to the trend of the unemployment rate shown in figure 7.
Qatar
Saudi Arabia
United Arab Emirates