Saudi Press

Saudi Arabia and the world
Sunday, Jan 29, 2023

Unemployment rate in Saudi Arabia slightly rises to 9.9 percent in Q3: GASTAT

Unemployment rate in Saudi Arabia slightly rises to 9.9 percent in Q3: GASTAT

The unemployment rate in Saudi Arabia slightly rose to 9.9 percent in the third quarter of 2022 from 9.7 percent in the second quarter, the General Authority of Statistics (GASTAT) announced on Thursday.
The rise, however, was still a significant decline from last year’s Q3 unemployment rate which tallied at 11.3 percent at the time.


The unemployment rate of the total population of Saudi Arabia also remained unchanged at 5.8 percent in Q3 of 2022.

Labor force participation among female Saudi citizens between the ages of 15 and 24 was also on the rise, the data showed. The rate rose from 48 percent in Q2 to 50.1 in Q3.

The labor force participation rate of Saudi citizens in general increased by 0.7 percent to a total of 52.5 percent, according to GASTAT. The employment-to-population ratio of Saudi citizens also rose to 47.5 percent.

According to GASTAT, 93.3 percent of unemployed Saudi citizens said they would accept employment in the private sector. The Kingdom has in the past seen its citizens prefer public sector jobs, but recent developments in non-oil sector jobs have provided more employment options to youth in the country.

The developments have largely been led by Crown Prince Mohammed bin Salman, who in 2016 unveiled the Kingdom’s ambitious Vision 2030 plan aimed at diversifying the country’s economy.

A key goal of Vision 2030 is to create jobs through the development of various sectors. For example, the expansion of the retail sector and the tourism sector are each expected to create one million jobs for Saudi nationals by 2030.
Newsletter

Related Articles

Saudi Press
Close
0:00
0:00
Tesla reported record profits and record revenues for 2022
Germany confirms it will provide Ukraine with Leopard 2 tanks
Prince Andrew and Virginia Giuffre Photo Is Fake: Ghislaine Maxwell
Opinion | Israel’s Supreme Court Claims a Veto on Democracy
Moonwalker Buzz Aldrin Gets Married On His 93rd Birthday
Who’s Threatening Israeli Democracy?
Federal Reserve Probes Goldman’s Consumer Business
China's first population drop in six decades
Microsoft is finalising plans to become the latest technology giant to reduce its workforce during a global economic slowdown
Saudi FM discusses Kingdom’s economy, oil, Iran and US ties in Davos
Israelis rally in three cities against Netanyahu legal reforms
China's foreign ministry branch in Hong Kong urges British gov't to stop the biased and double standards Hong Kong report
Tesla slashes prices globally by as much as 20 percent
1.4 Million Copies Of Prince Harry's Memoir 'Spare' Sold On 1st Day In UK
After Failing To Pay Office Rent, Twitter May Sell User Names
Lisa Marie Presley, singer and daughter of Elvis, dies aged 54
FIFA president questioned by prosecutors
Britain's Sunak breaks silence and admits using private healthcare
Saudi Arabia plans to use domestic uranium for nuclear fuel
Mohammed Bin Salman chosen most influential Arab leader of 2022
Hype and backlash as Harry's memoir goes on sale. Unnamed royal source says prince 'kidnapped by cult of psychotherapy and Meghan'
United Arab Emirates says it will teach Holocaust in schools
Saudi Arabia set to overtake India as fastest-growing major economy this year 
International medical experts speak out against COVID-19 restrictions on China
Google and Facebook’s dominance in digital ads challenged by rapid ascent of Amazon and TikTok
FTX fraud investigators are digging deeper into Sam Bankman-Fried's inner circle – and reportedly have ex-engineer Nishad Singh in their sights
TikTok CEO Plans to Meet European Union Regulators
France has banned the online sale of paracetamol until February, citing ongoing supply issues
Japan reportedly to give families 1 million yen per child to move out of Tokyo
Saudi Arabia’s female ambassadors: Who are the five women representing the Kingdom?
Almubarak named ‘The Best Central Bank Governor of the Year 2023 for the Middle East’
Hong Kong property brokerages slash payrolls in choppy market
U.S. Moves to Seize Robinhood Shares, Silvergate Accounts Tied to FTX
Effect of EU sanctions on Moscow is ‘less than zero’ – Belgian MEP
Dubai announces $8.7 trillion economic plan to boost trade, investment and global hub status
Coinbase to Pay $100 Million in Settlement With New York Regulator
FTX assets worth $3.5bn held by Bahamas securities regulator
A Republican congressman-elect is under investigation in New York after he admitted he lied about his education and work experience.
Brazilian football legend Pele, arguably the greatest player ever, has died at the age of 82.
Hong Kong to scrap almost all its Covid rules
EU calls screening of travellers from China unjustified
US imposes Covid testing for visitors from China
Ukraine President Volodymyr Zelenskyy Addresses Joint Session of Congress - FULL SPEECH
Where is Rishi? Chancellor Jeremy Hunt's excuses about the UK's economic challenges just don't make sense
Former FTX CEO Bankman-Fried finally arrested in Bahamas after U.S. files charges
Corruption works: House Financial Services Chair Waters doesn't plan to subpoena her donor, Sam Bankman-Fried, to testify at hearing on FTX collapse
Ronaldo's new contract...
Prince William's godmother resigns honorary royal role after exposing her/their racism
Tax fraud verdict again exposes illusion of Trump the master businessman
Tax fraud verdict again exposes illusion of Trump the master businessman.
×