The overall unemployment rate (for Saudis and non-Saudis) has relatively stabilized at 3.5 percent in Q1 2024, compared to 3.4 percent in Q4 2023.
According to the General Authority for Statistics (GASTAT), the Saudi unemployment rate in Q1 2024 reached 7.6 percent, down from 7.8 percent in Q4 2023. The unemployment rate for Saudi females rose to 14.2 percent in Q1 2024, up from 13.9 percent in the previous quarter. The unemployment rate for Saudi males decreased to 4.2 percent in Q1 2024 from 4.6 percent in the previous quarter.
Labor force participation rates
The labor force participation rate for Saudis increased to 51.4 percent in Q1 2024, up from 50.4 percent in Q4 2023. The labor force participation rate for both Saudis and non-Saudis decreased to 66.0 percent in Q1 2024 from 67.0 percent in the previous quarter. Additionally, the labor force participation rate for Saudi females increased to 35.8 percent in Q1 2024, up from 35.0 percent in the previous quarter. The labor force participation rate for Saudi males further increased to 66.4 percent in Q1 2024, up from 65.4 percent in the previous quarter.
#GASTAT
Unemployment rate of total population in the Kingdom stabilizes relatively at 3.5% in Q1 2024.— الهيئة العامة للإحصاء (@Stats_Saudi) June 30, 2024
Read more: Saudi Arabia’s international reserves reach $467.5 billion in May, highest in 18 months
Data collection methodology
Moreover, the data is based on a household survey conducted by GASTAT to collect information on the working-age population residing in the Kingdom and calculate important labor market indicators.
For more economy news, click here.
