Saudi Arabia unemployment stands at 7.7% in Q4 -’23

The unemployment rate for Saudi Arabia stood at 7.7 per cent in the fourth quarter of 2023, according to the General Authority for Statistics’ Labour Force Survey.

This figure represents a decrease of 0.9 percentage points from the third quarter of 2023 and 0.3 percentage points from the fourth quarter of 2022.

The overall unemployment rate in Saudi Arabia, including both Saudis and non-Saudis, reached 4.4 per cent during the same period, showing a decrease of 0.7 per cent from the previous quarter and 0.4 per cent from the previous year.

Additionally, the labour force participation rate among Saudis decreased by 0.3 to 51.3 per cent compared to the third quarter and by 1.2 percentage points compared to the previous year.

Meanwhile, the employment-to-population ratio for Saudis increased by 0.2 percentage points to 47.4 per cent compared to the third quarter but decreased by 0.9 per cent compared to the fourth quarter of 2022.