Saudi Unemployment rate of total population reaches 3.7% in Q3 2024

According to estimates from the Labor Force Survey of the General Authority for Statistics, the overall unemployment rate (for Saudis and non-Saudis) recorded 3.7% in the third quarter of 2024.

This marked an increase of 0.4 percentage points compared to the second quarter of 2024, and a yearly decrease of 0.5 percentage points compared to the third quarter of 2023.

The overall labor force participation rate (for Saudis and non-Saudis) reached 66.6% showing an increase of 0.4 percentage points compared to the second quarter of 2024 and a yearly increase of 0.2 percentage points compared to the third quarter of 2023.

The unemployment rate for Saudis reached 7.8% in the third quarter of 2024, rising by 0.7 percentage points compared to the second quarter of 2024 and recording a yearly decrease of 1.0 percentage points compared to the third quarter of 2023.

On the other hand, the results indicated an increase in the labor force participation rate for Saudis in the third quarter of 2024 by 0.7 percentage points compared to the second quarter of 2024, reaching 51.5%, and an increase of 0.7 percentage points compared to the third quarter of 2023.

The employment-to-population ratio for Saudis also increased by 0.2 percentage points compared to the second quarter of 2024, reaching 47.4%, and increased by 1.1 percentage points compared to the third quarter of 2023.