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The total unemployment rate inched up 0.1 percentage points in 1Q 2024 compared to the last quarter of 2023, according to a Gastat labor market report (pdf). The total unemployment rate, which includes both Saudi citizens and foreign workers, was down 0.8 percent points in 1Q 2024 compare to the same quarter of 2023.
The local unemployment rate improved 0.2 percentage points to 7.6% in 1Q 2024. It was also better than the same quarter last year, when local unemployment was 1.1 percentage points higher.
- More women are working than last year: The unemployment rate for female citizens improved 2.1 percentage points to 14.2%;
- More men, too: Unemployment for men was 4.2% in 1Q 2024, down 0.5 percentage points from the same quarter last year.
Driving the quarter-on-quarter uptick: A small uptick in unemployment among foreign workers.
The unemployment rate for expats in Saudi ticked up 0.2 percentage points in 1Q 2024.
The labor force participation rate for Saudis remained stable y-o-y at 51.4% in the first quarter of the year.
Trends in Saudis looking for work:
- We like the private sector: 95.9% of unemployed Saudis are willing to accept job offers in the private sector, Gastat said;
- Women don’t mind commuting: Unemployed women (62.5%) are more willing than unemployed men (45.8%) to accept commutes of at least one hour;
- Men are more willing to work long hours: 92.1% of unemployed men and 81% of women jobseekers are willing to work eight hours a day or more.
