Saudi Arabia’s unemployment rate dropped on an annual basis in the first quarter of 2023 as labour market indicators in the kingdom improved, driven by more women joining the workforce, government data has shown.
The overall unemployment rate, which counts both Saudi citizens and expats, decreased to 5.1 per cent in the three months ended in March, from 6 per cent during the same period in 2022, the General Authority for Statistics (Gastat) said in its quarterly report on Thursday.
For Saudi nationals, the rate stood at 8.5 per cent in the first quarter, a decrease from 10.1 per cent in the first quarter of 2022.
The unemployment rate for Saudi women fell sharply to 16.1 per cent, from 20.2 per cent a year ago, while it reached 4.6 per cent for men, down from 5.1 per cent a year earlier.
Saudi Arabia has been working to diversify its economy away from oil with a number of government programmes to spur business and create jobs.
It ambitious Vision 2030 agenda plans to lower the Saudi unemployment rate to 7 per cent and boost the participation of women in the workforce.
