Raising female labor force participation from 22% to 30% represents one of the Saudi Arabian government’s goals in its Vision 2030. All advanced economies feature strong female participation in the labor force, as robust economies make use of all available resources, male and female.
Economics
One salient difference between economists and non-economists is that the latter are often observed describing prices, including wages, as being “fair” or “unfair”, whereas economists will scarcely use such terms.
A concise monthly publication that covers the headline Bahraini economic indicators, and the most important Bahraini business, financial, and economics news.
A concise monthly publication that covers the headline Bahraini economic indicators, and the most important Bahraini business, financial, and economics news.
The recent success of Emirates, Etihad, and Qatar Airways has concerned global competitors, who have responded with government-mediated complaints alleging of “unfair” assistance from the Gulf governments, such as interest-free loans.
Under normal circumstances (the GCC is not included; see below), a company agrees to pay you a wage for one reason only: the tasks that you perform generate revenues for the company.
Oil has given the Gulf economies a very unique structure, which complicates comparisons to traditional economies. In particular, hydrocarbon income has played a large role in creating labor forces wherein nationals constitute a minority, a rare occurrence.
In last week’s Econ 101 column, we learnt that when a government struggles to manage its finances, it will suffer inflation and high interest rates, and that one remedy is to join the currency of a fiscally disciplined country.