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Saudi Unemployment Costs $1.5 Billion a Year, Arab News Reports

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March 28 (Bloomberg) -- Unemployment in Saudi Arabia costs the government 5.5 billion riyals ($1.5 billion) a year, Arab News reported, citing Mahmoud Awad, a senior official at the Ministry of Labor.

One million young Saudi men and women are without jobs in the kingdom, the Jeddah-based newspaper reported.

To contact the reporter on this story: Glen Carey in Riyadh at gcarey8@bloomberg.net

To contact the editor responsible for this story: Andrew J. Barden at barden@bloomberg.net

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