S. Arabia unemployment rises to 7.8% in Q3-24

Saudi Arabia’s unemployment rate among Saudi nationals reached 7.8 per cent in the third quarter of 2024, an increase of 0.7 percentage points from the previous quarter but a year-on-year decline of 1.0 percentage point, said the General Authority for Statistics (GASTAT) on Monday.

The overall labour force participation rate climbed to 66.6 per cent, with Saudi participation increasing to 51.5 per cent, both reflecting quarterly growth.

Saudi women achieved notable progress in workforce engagement. Female labour force participation rose to 36.2 per cent, with an employment-to-population ratio of 31.3 per cent. Among young Saudi women aged 15-24, participation reached 18.0 per cent, with employment at 13.6 per cent. Meanwhile, Saudi men recorded a participation rate of 66.9 per cent and an employment rate of 63.7 per cent.

Job seekers employed diverse strategies, with 87.7 per cent relying on personal networks, 75.0 per cent submitting direct applications, and 71.2 per cent using the Unified National Employment Platform, Jadarat, to pursue employment opportunities.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser