Saudi salaries are expected to rise by 4.5 per cent next year as the overall unemployment rates hit its lowest level in years, according to a report from Mercer, the world’s largest human resources consulting firm. Arab News reported.
The Total Remuneration Survey 2018 questioned 450 local and multinational organizations operating within the Saudi market.
Saudi Arabia’s GDP is expected to grow to 3.6 per cent in 2019, compared to 1.3 per cent in 2018, Mercer said. This is expected to have positive results on creating additional jobs in the near future, slightly enhancing salaries for Saudi nationals and decreasing the overall national unemployment rate.
Mercer survey also found that the annual base remuneration of executive, managerial and professional levels has grown on a yearly basis and is expected to rise by an average of 5 per cent in 2019.
While noting that the Saudi women unemployment rate has come down, the Mercer survey noted that the overall unemployment rate in the Kingdom increased in 2018.
However, the survey expects the overall unemployment rate to reach its lowest level in five years in 2019.