Saudi unemployment rate
Saudi unemployment rate in the first quarter of 2024 reached 7.6 per cent, compared to 7.8 per cent in the fourth quarter of 2023.
In the first quarter of 2024, the unemployment rate for Saudi females rose to 14.2 per cent, up from 13.9 per cent in the previous quarter of 2023.
On the other hand, the unemployment rate for Saudi male workers decreased to 4.2 per cent from 4.6 per cent in the previous quarter of 2023.
The labour force participation rate in Q1 2024 for Saudis increased to 51.4 per cent, compared to 50.4 per cent in the fourth quarter of 2023.
However, the labour force participation rate for both Saudis and non-Saudis decreased to 66 per cent from 67 per cent in the fourth quarter of 2023.
Moreover, the results also showed that the labour force participation rate for Saudi females increased to 35.8 per cent in the first quarter of 2024, up from 35 per cent in the previous quarter.
Similarly, for Saudi male workers, the labour force participation rate increased to 66.4 per cent from 65.4 per cent in the previous quarter.
According to GASTAT, the results are based on a household survey conducted by the authority, which electronically collects information from a sample representing different regions of the Kingdom.
Data about the working-age population residing in the Kingdom is thus collected and estimates are made by the authority by calculating important labour market indicators, such as unemployment and labour force participation rates, among others.
Full article: https://www.arabianbusiness.com/jobs/saudi-unemployment-falls-to-7-6
