Unemployment rate of Saudi total population stabilizes relatively at 3.5% in Q1 2024

According to estimates from the Labor Force Survey of the General Authority for Statistics and based on population estimates derived from the Saudi Census 2022, the overall unemployment rate (for Saudis and non-Saudis) recorded at 3.5% in the first quarter of 2024.

This marked a slight increase of 0.1 percentage points compared to the fourth quarter of 2023, and a yearly decrease of 0.8 percentage points compared to the first quarter of 2023.

The Saudi unemployment rate in the first quarter of 2024 reached 7.6%, showing a 0.2 percentage points drop compared to the fourth quarter of 2023, and a yearly decrease of 1.1 percentage points compared to the first quarter of 2023 .

On the other hand, the results indicated an increase in the labor force participation rate for Saudis in the first quarter of 2024 by 1.0 percentage point compared to the fourth quarter of 2023, reaching 51.4%.

The employment-to-population ratio for Saudis also rose by 1.0 percentage point compared to the fourth quarter of 2023, reaching 47.5%, and by 0.5 percentage points compared to the first quarter of 2023.