Saudi Unemployment Rate Drops in Labor Market
The latest official data released on Thursday in Saudi Arabia revealed a drop in the unemployment rate in the Saudi workforce.
The unemployment rate of the total working age population (15+ Saudi and non-Saudi) fell from nine percent to 6.6 percent in the second quarter of 2021, according to the General Authority for Statistics (GASTAT) estimates based on the Labor Force Survey (LFS).
Saudi Arabia’s citizen unemployment rate fell to 11.3 percent in the Q2 2021, as the economy continued to recover from the pandemic and the government intensified efforts to create jobs for nationals.
The rate compares to 11.7 percent in the first quarter. Saudi male unemployment declined to 6.1 percent in the period from March to June, from 7.2 percent in the first quarter, while female unemployment rose to 22.3 percent, from 21.2 percent, according to the data.
Saudi labor force participation fell slightly to 49.4 percent, suggesting that some citizens are dropping out of the job market.
Total labor force participation, for Saudis and non-Saudis, was 60.8 percent in the second quarter, down from 61.1 percent in the first three months of the year.
Saudi labor force participation fell slightly to 49.4 percent, data showed. The labor force participation rate of Saudi males dropped to 65.7 percent in the second quarter, compared to 66.2 percent in the first quarter.
The kingdom has recently launched the Human Capacity Development Program, under the auspices of Saudi Crown Prince Mohammed bin Salman, Deputy Prime Minister and Minister of Defense.
It is one of the programs aimed to attain Saudi Vision 2030, which represents a national strategy to enhance the competitiveness of national human capacities locally and globally.
