The unemployment rate among Saudis recorded 7.8% in the third quarter of 2024

Estimates of the Labor Force Survey of the General Authority for Statistics revealed that the total unemployment rate for Saudis and non-Saudis reached 3.7% in the third quarter of 2024, recording an increase of 0.4 percentage points compared to the second quarter of 2024, and recording an annual decrease of 0.5 percentage points compared to the quarter. The third of the year 2023 AD.
The overall participation rate (for Saudis and non-Saudis) reached 66.6, recording an increase of 0.4 percentage points compared to the second quarter of 2024 AD, and recording an annual increase of 0.2 percentage points compared to the third quarter of 2023 AD.

Unemployment rate

The results showed that the percentage of Saudis reached 7.8% in the third quarter of 2024 AD, an increase of 0.7 percentage points compared to the second quarter of 2024 AD, and an annual decrease of 1.0 percentage points compared to the third quarter of 2023 AD.
The results revealed an increase in the Saudi labor force participation rate in the third quarter of 2024 by 0.7 percentage points compared to the second quarter of the same year, where it reached 51.5%, recording an annual increase of 0.7 percentage points compared to the third quarter of 2023.
The ratio of Saudi workers to the population increased by 0.2 percentage points compared to the second quarter of 2024, reaching 47.4%, recording an annual increase of 1.1 percentage points from the third quarter of 2023.

High participation rate of Saudi women

The results of labor market indicators in the Kingdom of Saudi Arabia for the third quarter of 2024 showed an increase in the rate of Saudi women’s participation in the labor force by 0.8 percentage points to reach 36.2%.
The ratio of Saudi female workers to the population increased by 0.5 percentage points to reach 31.3%, and the unemployment rate for Saudi women increased by 0.8 percentage points to reach 13.6%, compared to the previous quarter.
As for Saudi males, the labor force participation rate rose by 0.6 percentage points to reach 66.9%, the employment-to-population ratio rose to 63.7%, and the unemployment rate rose to 4.7% compared to the previous quarter.

High participation rate for Saudis

The results related to young Saudi women (15-24 years) showed that their participation rate in the labor force increased by 1.0 percentage points, reaching 18.0%. The ratio of female workers to the population in the third quarter of 2024 also increased by 0.6 percentage points, reaching 13.6%. In addition, the unemployment rate increased by 0.9 percentage points, reaching 24.5% compared to the previous quarter of 2024.
On the other hand, the results related to young Saudi males witnessed an increase in their labor force participation rate by 1.1 percentage points to reach 34.6%, with a stability in the employment-to-population ratio at 29.7% and an increase in the unemployment rate by 2.6 percentage points to reach 14.0% compared to the previous quarter of the year. 2024 AD.
The results related to labor market indicators for the third quarter of 2024 for the Saudi male and female population of basic working age (25 and 54 years) showed an increase in the labor force participation rate by 0.7 percentage points, reaching 69.4%.
The employment-to-population ratio rose by 0.3 percentage points, reaching 64.8%, and the unemployment rate rose to 6.7% compared to the previous quarter of 2024.
Regarding Saudis aged 55 years and over, labor market indicators in the third quarter of 2024 showed an increase in the labor force participation rate compared to the previous quarter of 2024.

Active methods of job search

Unemployed Saudis used a variety of active job search methods, with an average of 5.0 active methods for each job seeker. The method of asking friends or relatives about employment opportunities was the most widely used job search method at a rate of 87.7%, followed by the method of applying to employers. Directly by 75.0%.
While the use of the unified national employment platform (Jadarat) constituted 71.2%.

Additional indicators

The results showed that 95.6% of unemployed Saudis would accept a job offer in the private sector and that 60.9% of unemployed Saudi women and 44.0% of unemployed Saudi men would accept that the commute to work be at most one hour.
77.5% of unemployed Saudi women, and 91.1% of unemployed Saudi men, reported that they would accept working for eight hours or more per day.