Saudi Arabia’s non-oil sector witnessed strong growth in October, resulting in a significant rise in employment levels, a business survey revealed on Sunday.
A robust increase in new businesses has led to a nine-year high in job numbers. The Riyad Bank Saudi Arabia Purchasing Managers’ Index (PMI) rose for the second consecutive month in October, picking up to 58.4 from 57.2 in September. The reading was the highest since June.
Naif Al-Ghaith PhD, Chief Economist at Riyad Bank, said: “The employment expansion is a promising sign for the Saudi economy, as it suggests a growing demand for labour and a potential improvement in the job market.”
Source: Zawya
