DUBAI: Unemployment among Saudi citizens edged up to 7.8% in the third quarter, according to government estimates released on Tuesday, even as government efforts at reform boosted participation rates in the labour force.
Job creation, especially in an expanded private sector, is a key focus of Crown Prince Mohammed Bin Salman’s Vision 2030 economic transformation programme. This programme seeks to stimulate the economy and diversify it away from hydrocarbons.
Attempts to reform the labour market, stimulate private sector growth and investment and gradually loosen some social restrictions have all boosted the work force, with a marked increase in female employees.
The third-quarter unemployment numbers represent an increase from 7.1% in the previous quarter, data from the General Authority for Statistics showed, but are down from 8.8% in the same period a year ago.
The overall rate of unemployment, which includes expatriate workers, also rose to 3.7% in the third quarter from 3.3% in Q2, but was lower than 4.2% in 2023.
Female participation in the labour force stood at 36.2% in the quarter, up from 35.4% a year ago.
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Unemployment among women also rose in the same quarter to 13.6%, higher than the 12.8% in the previous quarter but down three percentage points year on the year. More than 60% of the population is under the age of 30.
According to the latest data, 95.6% of unemployed Saudi citizens are willing to accept job offers in the private sector.
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