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The unemployment rate among Saudis fell to 7.7% in the fourth quarter of 2023, compared to 8.6% in the third quarter of 2023, according to the General Authority for Statistics’ (GASTAT) labor force survey.
The unemployment rate in Q4 2023 is at the lowest ever level, based on the data available since 1999.
The Kingdom’s Vision 2030 targets an unemployment rate of 7%.
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 employment-to-population ratio of Saudis rose to 47.4% on a quarterly basis in Q4 2023.
The participation rate of Saudi women fell to 35.5% in Q4 2023.
Meanwhile, the overall unemployment rate among the working-age population reached 4.4% in Q4 2023, compared to 5.1% in Q3 2023.
The following table illustrates the changes in unemployment in Saudi Arabia:
|
Unemployment Rate in Saudi Arabia |
||
|
Period |
Unemployment rate |
Unemployment rate among Saudis |
|
Q1 2017 |
5.8 % |
12.7 % |
|
Q2 2017 |
6.0 % |
12.8 % |
|
Q3 2017 |
5.8 % |
12.8 % |
|
Q4 2017 |
6.0 % |
12.8 % |
|
Q1 2018 |
6.1 % |
12.9 % |
|
Q2 2018 |
6.0 % |
12.9% |
|
Q3 2018 |
6.0 % |
12.8% |
|
Q4 2018 |
6.0 % |
12.7% |
|
Q1 2019 |
5.7 % |
12.5% |
|
Q2 2019 |
5.6 % |
12.3 % |
|
Q3 2019 |
5.5 % |
12.0 % |
|
Q4 2019 |
5.7 % |
12.0 % |
|
Q1 2020 |
5.7 % |
11.8 % |
|
Q2 2020 |
9.0 % |
15.4 % |
|
Q3 2020 |
8.5 % |
14.9 % |
|
Q4 2020 |
7.4 % |
12.6 % |
|
Q1 2021 |
6.5 % |
11.7 % |
|
Q2 2021 |
6.6 % |
11.3 % |
|
Q3 2021 |
6.6 % |
11.3 % |
|
Q4 2021 |
6.9 % |
11.0 % |
|
Q1 2022 |
6.0 % |
10.1 % |
|
Q2 2022 |
5.8 % |
9.7 % |
|
Q3 2022 |
5.8 % |
9.9 % |
|
Q4 2022 |
4.8 % |
8.0 % |
|
Q1 2023 |
5.1 % |
8.5 % |
|
Q2 2023 |
4.9% |
8.3% |
|
Q3 2023 |
5.1 % |
8.6% |
|
Q4 2023 |
4.4% |
7.7% |
Saudis accounted for 51.1% and 48.2% of the labor force in the public and private sectors, respectively. On the other hand, non-Saudis employed in the private sector made up 70.2%.
|
Employees by Nationality and Sector in Saudi Arabia |
|||
|
Sector |
Saudis |
Non-Saudis |
Total |
|
Public Sector |
51.1% |
3.9% |
26.9% |
|
Private Sector |
48.2% |
70.2% |
59.5% |
|
Other Sectors |
0.4% |
25.7% |
13.4% |
|
Unspecified |
0.4 % |
0.1% |
0.3 % |
|
Total |
100 % |
100 % |
100 % |
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