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Young Saudis see cushy jobs vanish as oil prices plunge

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RIYADH, Saudi Arabia — In pressed white robes and clutching crisp resumes, young Saudi men packed a massive hall at a university in the capital city this month to wait in long lines to pitch themselves to employers.

It was one of three jobs fairs in Riyadh in two weeks, and the high attendance was fueled in part by fear among the younger generation of what a future of cheap oil will mean in a country where oil is everything.

For decades, the royal family has used the kingdom's immense oil wealth to lavish benefits on its people, including free education and medical care, generous energy subsidies and well-paid (and often undemanding) government jobs. No one paid taxes, and if political rights were not part of the equation, that was fine with most people.

http://oilpro.com/links/29437/young-saudis-see-cushy-jobs-vanish-oil-prices-plunge

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