The General Authority for Statistics released the labor market statistics for the fourth quarter of 2024 today. According to the bulletin, the unemployment rate for the total population of the Kingdom, including both Saudis and non-Saudis aged 15 and above, dropped to 3.5%. The unemployment rate for Saudi nationals, both males and females aged 15 and above, also decreased to 7.0% in the last quarter of 2024 compared to 7.8% in the same period in 2023.
The unemployment rate for male population reached 2%, while for females, it was 10.4%. Additionally, the participation rate of Saudi women in the labor force increased to 36.0% compared to the same period in 2023.
The results show that the unemployment rate for Saudi males was 4.3%, while the unemployment rate for Saudi females dropped to 11.9% in the last quarter of 2024 compared to 13.6% in the previous quarter of the same year. The participation rate in the labor force for the total population, including Saudis and non-Saudis aged 15 and above, reached 66.4%, with the male participation rate at 83.6%.
The decrease in unemployment rates is attributed to the increase in the employment rate for Saudi nationals, driven by the strong and evolving performance of the labor market. This improvement is mainly due to the rise in the employment rate for Saudi nationals to 47.5%, an increase of 1.0% compared to the same quarter of 2023. The employment rate for Saudi women also increased to 31.8%, marking a 1.7% annual increase.
This positive trend is a result of effective policies in labor market development, enhancing the employment environment, and supporting initiatives to empower women. These efforts have contributed to increasing women’s economic participation and strengthening their role in driving economic growth and sustainable development.
The bulletin results show that the participation rate in the labor force for the female population aged 15 and above reached 33.5%, while the participation rate for Saudi nationals was 51.1%. The participation rate for Saudi males in the labor force was 66.2%, and for Saudi females, it was 36%.
The results also indicated that the employment-to-population ratio for the working-age population, including Saudis and non-Saudis aged 15 and above, was 64%, with the employment-to-population ratio for males reaching 81.9% and for females reaching 30%. For the Saudi population, both male and female aged 15 and above, the employment-to-population ratio was 47.5% and 63.4% for males, and 31.8% for females.
It should be noted that the General Authority for Statistics adopted population estimates based on the results of the 2022 Saudi Census starting from the first quarter of 2024 onwards. The Labor Market Bulletin includes key indicators based on labor force surveys, as well as statistics on the number of participants based on data from the Ministry of Human Resources and Social Development, the General Organization for Social Insurance, and the National Information Center.
