Unemployment among Saudis during 2Q 2024 was the lowest in history

Saudi Gazette report

RIYADH — The unemployment rate in Saudi Arabia during the second quarter of 2024 fell to 7.1 percent, close to the 7 percent target of the Saudi Vision 2030. This is the lowest historical level of unemployment, according to the latest data released by the General Authority for Statistics (GASTAT).

The unemployment rate among Saudis decreased by 0.5 percentage points from the first quarter of 2024, and an annual decrease as well by 1.4 percentage points, compared to the second quarter of 2023.

With regard to the estimates of the workforce survey, the GASTAT report stated that the total unemployment rate among the Saudi population, including Saudis and non –Saudis, fell to 3.3 percent in the second quarter, compared to 3.5 percent in the first quarter of 2024, recording a decrease by 0.2 percentage points.

The report showed the decrease in the rate of participation of Saudis in the workforce in the second quarter by 0.6 percent, compared to the first quarter of the year. It reached 50.8 percent, while it recorded a slight increase of 0.1 points compared to the second quarter of 2023.

The number of Saudi workers among the population reached 47.2 percent, and this figure recorded a decrease of 0.3 points compared to the first quarter of 2024. The data of the second quarter of 2024 showed the high rate of Saudi women, reaching 30.8 percent, among the population with an increase of 0.1 percentage points.