Saudi Gazette Report

RIYADH — There has been a historic decline in the unemployment rate among Saudi women reaching 13.7 percent during the fourth quarter of 2023. The rate fell 2.6 percent from 16.3 percent during the third quarter of the year while the unemployment rate among Saudi men remained stable at 4.6 percent in the fourth quarter of last year, which was the same level as in the third quarter.

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This information was contained in the Labor Market Publication for Q4 of 2023, released by the General Authority for Statistics (GASTAT). The total unemployment rate (for Saudis and non-Saudis) dropped to 4.4 percent during the fourth quarter and this marked a decrease of 0.7 percent, reaching 5.1 percent during the third quarter of the year. The unemployment rate for Saudis also decreased to 7.7 percent in Q4 compared to 8.6 percent in the previous quarter.

There was a slight decline in the labor force participation rate for the total population in the fourth quarter of 2023. It reached 60.4 percent, a decrease of 0.5 percent compared to the third quarter of 2023, when it stood at 60.9 percent. The data also showed a slight change of 0.3 percent in the labor force participation rate of total Saudis in the fourth quarter of 2023, reaching 51.3 percent compared to 51.6 percent in the third quarter of the same year.

The efforts of the human resources and social development system have contributed to achieving a historic decline in the unemployment rate for the total Saudi population, as it reached 7.7 percent in the fourth quarter of 2023, a decrease of 0.9 percent, reaching 8.6 percent in the third quarter. The efforts also resulted in a decrease in the unemployment rate for the total population to 4.4. percent in the fourth quarter of 2023, a decrease 0.7 percent from the 5.1 percent in the third quarter.

During the year 2023, about 1.9 million Saudi men and women have benefited from the programs provided by the Human Resources Development Fund (HADAF), which are directed to support the training, employment and empowerment of Saudi cadres. The support expenses provided by HADAF to empower Saudis have exceeded SR8.7 billion during the year 2023. The Saudization programs and decisions and initiatives of the human resources and social development system to support private sector establishments also contributed to the number of Saudi male and female employees in the private sector reaching a record number of 2,325,814.