Economy

Unemployment Rate Decreases Among Saudis to 8%

Unemployment Rate Decreases Among Saudis to 8%

The unemployment rate among Saudis has decreased to 8% in the fourth quarter of 2022, according to a statement from the General Authority for Statistics released today, Thursday. The labor force participation rate among Saudis remained steady at 52.5%. The overall unemployment rate in the country, which includes both Saudis and non-Saudis, dropped to 4.8% in the fourth quarter compared to 5.8% in the previous quarter, indicating that "the decline in the unemployment rate was driven by job growth."

Additionally, the unemployment rate among Saudis decreased by three percentage points from 11% in the fourth quarter of 2021, while the participation rate of females in the labor force increased, and the unemployment rate among Saudi women fell to 15.4% in the fourth quarter from 20.5% in the third quarter of the year.

Recent data revealed that 94.1% of unemployed Saudis are willing to accept jobs in the private sector, showing a slight increase from the third quarter. Historically, the public sector has been the main employer of Saudi citizens.

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