30,000 unemployed graduates by ’30: CBK – Private sector urged to help solve problem

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KUWAIT CITY, Aug 13: The Central Bank of Kuwait (CBK) expects Kuwait to have 30,000 unemployed graduates by 2030, indicating the last survey conducted by the Central Statistics Bureau showed that half of the Kuwaiti graduates have to wait for a year to get a job, reports Al-Rai daily.

Commenting on the issue; Minister of Justice, Awqaf and Islamic Affairs Yaqoub Al-Sane disclosed a mechanism will be announced soon to encourage the graduates to find jobs in the private sector. He pointed out it is now time for the private sector to bear its responsibility in employing Kuwaiti youths. He added the Small and Medium Enterprises (SMEs) Fund is promising despite some remarks about it. He affirmed the State has other ways to solve the unemployment problem as it aims to reduce the number of Kuwaiti employees in the public sector from 85 percent 50 or 40 percent in a bid to encourage citizens to work in the private sector.

He went on to say the increasing number of major development projects and the privatization of certain public institutions will lead to reduction in the number of citizens employed in the public sector.

On the other hand, Chairman of parliamentary Financial Affairs Committee MP Faisal Al-Shaye has emphasized the need to generate job opportunities for the youths and to urge the private sector to absorb a large number of graduates. He also confirmed completion of the executive regulations for the law on the establishment of the SMEs Fund, revealing the fund has submitted its manpower requirements to the Civil Service Commission (CSC).

In addition, MP Khalil Al-Saleh said the Kuwaitis youths prefer administrative jobs in general and they are not interested in vocational and technical jobs; thereby, worsening the unemployment problem. He called on the youths to start gearing towards vocational and technical jobs, as well as enhancing the role of the SMEs Fund.

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