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Saudi Arabia
A significant milestone has been reached in Saudi Arabia, as the female unemployment rate witnessed a sharp decline to 13.7% in the fourth quarter of 2023, according to official statistics released by the General Authority for Statistics. The decrease of 2.6% from the previous quarter reflects the Kingdom’s ongoing efforts to address gender inequality and foster economic empowerment for women.
Meanwhile, the unemployment rate among Saudi men remained stable at 4.6 percent during the same period, reflecting a balanced labor market landscape.
These promising statistics were unveiled in the Labour Market Publication for the fourth quarter of 2023, published by the General Authority for Statistics (GASTAT), highlighting the Kingdom’s proactive approach towards enhancing workforce dynamics.
Overall, the unemployment rate across the Kingdom, encompassing both Saudis and non-Saudis, experienced a notable decrease to 4.4 percent, down from 5.1 percent in the third quarter. Specifically, the unemployment rate for Saudis saw a noteworthy decline to 7.7 percent in the fourth quarter, compared to 8.6 percent in the preceding quarter.
Despite a marginal decline, the labor force participation rate slightly decreased in the fourth quarter to 60.4 percent, from 60.9 percent in the third quarter. Similarly, for Saudis alone, the labor force participation rate witnessed a minor adjustment to 51.3 percent in the fourth quarter from 51.6 percent in the third quarter.
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