Hiring spree: Saudi jobs growth hits 12-year high

Between January and March, Saudi Arabia's non-oil private sector created jobs at the fastest pace in 12 years, as businesses looked to expand on higher growth orders.

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"Hiring activity was supported by an upturn in demand, which also encouraged an expansion in output and stockpiling of inputs," says the latest monthly PMI report from Riyad Bank.

But competition was intense, prompting businesses to offer heavy discounts, "with a decrease recorded for the first time in six months".

"At the same time, the rate of input cost inflation slid to its weakest in just over four years," the report added.

Unemployment declines

"Rising employment rates are a direct benefit of businesses scaling up operations to meet demand," said Naif Al Ghaith, Chief Economist at Riyad Bank.