Saudi Minister: Crown Prince Revises 2030 Unemployment Target to 5%

Saudi Arabia’s Minister of Human Resources and Social Development, Ahmed Al-Rajhi, announced that the unemployment rate among Saudis has dropped to 7.1%, achieving the Vision 2030 target six years ahead of schedule. Under the direction of Crown Prince Mohammed bin Salman, the Kingdom has now set a revised target of 5% by 2030.
Speaking at the 2025 Budget Forum during a panel titled The Budget in Supporting Basic Services, Al-Rajhi revealed that the Social Development Bank has provided loans totaling 8 billion riyals ($2.13 billion) to support small and medium enterprises and entrepreneurs, benefiting over 1,000 citizens. He added that 41 billion riyals were allocated in 2024 to assist citizens in coping with rising living costs.
The minister highlighted the Kingdom’s progress in reducing unemployment, noting that the overall rate fell from 6% in 2018 to 3.3% today, while unemployment among Saudis decreased from 12.8% to 7.1%. “This significant achievement positions us to aim for a 5% unemployment rate by 2030,” he said.
Al-Rajhi also outlined the role of the human resources system in advancing eight of the 11 Vision 2030 programs and managing 16 sector strategies. On women’s economic participation, he said it reached 35%, surpassing the 2030 target of 30% seven years early.
“This milestone underscores a strong partnership with the private sector,” Al-Rajhi stated, adding that social security initiatives are shifting from reliance on government support to economic empowerment. He noted that 120,000 beneficiaries have been empowered through these efforts, including the launch of seven empowerment clinics addressing employment, health, and financial challenges.