JEDDAH: Saudi Arabia’s unemployment rate for nationals dropped to 7% in Q4 2024, down 0.8 percentage points from the previous quarter and the same period last year, according to the General Authority for Statistics.
The data highlights a rise in the employment-to-population ratio, reflecting ongoing job creation efforts aligned with Vision 2030. While the overall labor force participation rate slightly declined, Saudi Arabia continues to push for economic growth and workforce expansion.
The labor market survey showed the overall unemployment rate, including non-Saudis, stood at 3.5%, marking a 0.2 percentage point quarterly drop. The employment-to-population ratio for Saudis rose to 47.5%, while their labor force participation reached 51.1%.
Saudi female unemployment fell to 11.9%, with their employment-to-population ratio rising to 31.8%. Meanwhile, Saudi male unemployment decreased to 4.3%, though their labor force participation declined to 66.2%.
Saudi youth (15-24) saw a decline in unemployment to 12.2%, while those aged 25-54 experienced an increase in employment-to-population at 64.9%, with unemployment falling to 6.2%.
Most job seekers used multiple job search methods, with 86.9% relying on personal networks. Notably, 94.1% of unemployed Saudis are willing to work in the private sector.
Saudi Arabia remains committed to labor market reforms, aiming for sustained employment growth and economic development.
[Reported by Arab News]
