Unemployment rate among Saudis falls to all-time low at 8%

The Kingdom of Saudi Arabia's flag

The unemployment rate among Saudis dropped to the lowest ever level, based on the data available since 1991.

It fell to 8% in the fourth quarter 2022, from 9.9% in the previous quarter, according to the General Authority for Statistics’ (GASTAT) Labor Force Survey. 

The Kingdom targets an unemployment rate of 7% by 2030.

Crown Prince Mohammed bin Salman earlier said that the Kingdom seeks to cut the jobless rate to 4-7% in line with Vision 2030, and will achieve this level before 2030.

The unemployment rate among Saudi males reached a lifetime low. It also retreated to 15.4% among Saudi females, the lowest level ever, based on GASTAT’s data since 1999.

The labor force participation rate among Saudis was steady on a quarterly basis at 52.5% in Q4 2022.

The overall unemployment rate in Saudi Arabia in working age declined to 4.8% in Q4 2022, from 5.8% in Q3 2022, GASTAT added.

The following table illustrates the changes in unemployment in Saudi Arabia:

Saudis account for 53.1% and 46.5% of the labor force in the public and private sectors, respectively. On the other hand, non-Saudis employed in the private sector represented 71.6% of total.

Details and historical data for Macro Economy