Unemployment rate among Saudis falls to 7% in Q4 2024

The General Authority for Statistics revealed that the unemployment rate for the Kingdom’s total population (Saudis and non-Saudis aged 15 and over) fell to 3.5%. The unemployment rate for the Saudi population (males and females aged 15 and over) also fell to 7% in Q4 2024, compared to 7.8% in the same period in 2023.

According to the Labor Market Statistics Bulletin for Q4 2024, the unemployment rate for the total male population reached 2% and for females 10.4%. Meanwhile, the rate of Saudi women’s participation in the labor force increased compared to the same period in 2023, reaching 36.0%. The bulletin’s results indicated that the unemployment rate for Saudi males reached 4.3%, while the unemployment rate for Saudi females decreased to 11.9% in the fourth quarter of 2024, compared to 13.6% in the previous quarter of the same year. Meanwhile, the labor force participation rate for the total population (Saudis and non-Saudis aged 15 and over) reached 66.4%, and the labor force participation rate for the total male population reached 83.6%.

The decline in unemployment rates is attributed to the increase in the employment rate among the Saudi population, driven by the strong and advanced performance of the labor market. This improvement is primarily due to the increase in the employment rate among the Saudi population to 47.5%, an increase of 1.0% compared to the same quarter of 2023. The rate of Saudi female workers also increased to 31.8%, recording a 1.7% increase year-on-year. This improvement is the result of effective policies to develop the labor market, enhance the employment environment, and support women’s empowerment initiatives, which have contributed to increasing women’s economic participation and strengthening their role in driving growth and sustainable development.

The bulletin’s results showed that the labor force participation rate for the total female population (aged 15 and over) reached 33.5%, while the labor force participation rate for the Saudi population reached 51.1%. Meanwhile, the labor force participation rate for Saudi males reached 66.2% and for Saudi females 36%. The bulletin’s results indicated that the employment-to-working-age population ratio (Saudis and non-Saudis aged 15 and over) reached 64%, and the employment-to-working-age population ratio for the total male population reached 81.9%. The employment-to-working-age population ratio for females reached 30%, while the employment-to-working-age population ratio for the Saudi population (males and females aged 15 and over) reached 47.5%. The employment-to-working-age population ratio for Saudi males was 63.4%, and the employment-to-working-age population ratio for Saudi females was 31.8%. It’s worth noting that the General Authority for Statistics adopted population estimates based on the results of the 2022 Saudi Census, starting from the first quarter of 2024 onwards. The Labor Market Bulletin includes key indicators of labor market statistics based on the Labor Force Survey, in addition to statistics on the number of participants based on administrative data issued by the Ministry of Human Resources and Social Development, the General Organization for Social Insurance, and the National Information Center.