Riyadh: The unemployment rate in the Kingdom of Saudi Arabia (KSA) recorded a noticeable decline during the second quarter of 2023, compared to the first quarter of the current year, according to a report released by the General Authority for Statistics.
The unemployment rate for Saudi citizens stood at 8.3 percent from 8.5 percent.
The overall unemployment rate, which counts Saudi citizens and expats, decreased to 4.9 percent from 5.1 percent.
The unemployment rate for expats fell to 1.5 percent from 1.7 percent and decreased to 15.7 percent from 16.1 percent for Saudi women.
The unemployment rate for Saudi males stabilized at 4.6 percent compared to the previous quarter.
The economic participation in the labour force of the population declined from 61.7 percent to 60.8 percent, as it declined for Saudis from 52.4 percent to 51.7 percent.
For expats it declined to 74.2 percent from 75.2 percent in the first quarter of 2023.
The decline in the unemployment rate coincided with the growth boom in the Saudi economy, which supports the creation of more jobs for citizens.
In its future vision for 2030, the Kingdom aims to reduce the unemployment rate among its citizens to 7 percent by the end of the reform program.
