Economics
A Target Saudis Can Ill Afford to Miss. And It's Not Aramco IPO
- Officials said to have discussed mass public-sector hiring
- Citizen unemployment continues to rise as economy struggles
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Saudi officials are scrambling to reverse rising unemployment that could test the patience of the youthful supporters Crown Prince Mohammed bin Salman needs for his plan to rid the kingdom of its reliance on oil.
One proposal discussed by officials involved the creation of as many as 500,000 government jobs, even though Prince Mohammed’s blueprint for the post-oil era was based on cutting the public payroll, according to three people familiar with the matter. That idea isn’t likely to be pursued, one of the people said, but the fact that it was even proposed is a sign of growing pressure on the issue.