Unemployment rate in Saudi Arabia hits 5.1% in Q1-23 – GaStat

Unemployment rate in Saudi Arabia hits 5.1% in Q1-23 – GaStat

The overall unemployment rate in Saudi Arabia, including both Saudis and non-Saudi nationals, reached 5.1% in the first quarter (Q1) of 2023, down by 0.9% on an annual basis yet higher by 0.3% than Q4-22, according to estimates of the General Authority for Statistics' (GaStat) Labor Force Survey. Meanwhile, the unemployment rate of Saudis was 8.5% in Q1-23, up by 0.5% compared to Q4-22. GaStat’s report showed that The participation rate for Saudi females in Q1-23 rose by 2.4% compared to Q1-22, yet remained unchanged at 36% when compared to Q4-22. Meanwhile, the unemployment rate for Saudi females surged to 16.1% in Q1-23, higher by 0.7% from Q4-22. Meanwhile, the employment-to-population ratio edged down by 0.2% to hit 30.2% in Q1-23. As for the Saudi males’ participation, the unemployment rate was 4.6%, up 0.4% from Q4-22. Furthermore, the labour force participation rate of Saudi males went down by 0.2% to 68.3% in Q1-23 while the employment-to-population ratio declined by 0.5% to 65.2%. It is worth noting that declined to 58.5 in May 2023 as a result of downward movements in new orders and output. The employment growth in Saudi Arabia, meanwhile, was relatively strong in the month of May this