Economics

Saudi Makeover Masks Same Old Habits When It Comes to Jobs

Photographer: Simon Dawson/Bloomberg
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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.