Saudi Arabia

Unemployment Rate Among Saudis Declines to 7.6% in Q1

The overall unemployment rate for Saudis and non-Saudis has stabilised at approximately 3.5 per cent this year, compared to 3.4 per cent in the fourth quarter of 2023.

Saudi Arabia’s General Authority for Statistics issued a report indicating a decline in the unemployment rate for all Saudis to 7.6 per cent in the first quarter of 2024, compared to 7.8 per cent in the fourth quarter of 2022. The new rate is approaching the Saudi Vision 2030 target of 7 per cent.

According to the Saudi Press Agency (SPA), the unemployment rate for Saudi women increased slightly in the first quarter of 2024, reaching 14.2 per cent compared to 13.9 per cent in Q1-2023.

Meanwhile, the unemployment rate for male Saudis dropped to 4.2 per cent in the first quarter of 2024, compared to 4.6 per cent in Q1-2023.

The participation rate for Saudi women in the job market also increased, reaching 35.8 per cent in the first quarter of 2024 compared to 35 per cent in the same period under review.

Similarly, the labour force participation rate for Saudi men increased in the first quarter of 2024, reaching 66.4 per cent compared to 65.4 per cent in the first quarter of 2023.

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Gulf News

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