#Saudi Makeover Masks the Same Old Habits When It Comes to Jobs - Bloomberg

Saudi Makeover Masks the Same Old Habits When It Comes to Jobs - Bloomberg:

Saudi Arabia’s private businesses may be shedding jobs, but there’s one place that’s hiring: The government.

Payrolls are swelling at state agencies involved in Crown Prince Mohammad bin Salman’s revamp of the economy -- from the wealth fund to new entities called “Vision Realization Programs.” Not surprisingly, the kingdom is finally making a dent in citizen unemployment after it peaked last year at nearly 13%, the highest in over a decade.

But that’s where the good news ends. Although joblessness among Saudis declined to 12.5% in the first quarter, the number of citizens working in the private sector actually fell. The government, still the main employer for the kingdom’s nationals, has added more than 20,000 jobs for Saudis since the third quarter of last year, when the statistics service started reporting the breakdown by sector.