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Economic Times
2 hours ago
- Business
- Economic Times
Saudi Arabia's overall unemployment falls to just 2.8 per cent, with women leading the charge
Live Events What is driving Saudi Arabia's reduced unemployment rate Vision 2030 Goals Recalibrated How Saudis search for jobs (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel The unemployment rate among Saudi nationals dropped to an all-time low of 6.3 per cent in the first quarter of 2025, marking the lowest level since the Kingdom began publishing labor force data, according to the latest figures released by the General Authority for Statistics (GASTAT).This historic decline was largely attributed to Saudi women's increasing participation in the labor market and ongoing labor market reforms under Vision female unemployment rate fell to a record-low 10.5 per cent, a year-on-year drop of 3.6 percentage the labor force participation rate among Saudi women increased by 0.3 percentage points to 36.3 per cent, while the employment-to-population ratio rose by 0.7 percentage points to 32.5 per unemployment rate among Saudi men also continued its downward trend, falling slightly to 4.0 per cent, a year-on-year decline of 0.2 percentage the broader labor market, including both Saudis and non-Saudis, the overall unemployment rate fell to 2.8 per cent in Q1 2025, compared to 3.5 per cent during the same quarter a year economic empowerment initiatives were a major factor in the unemployment decline in Saudi Arabia. The labor force participation rate for Saudi women increased to 36.3 per cent, while their unemployment rate dropped from 14.1 per cent to 10.5 per cent over the past young Saudi women aged 15–24, participation rose to 18.4 per cent and the employment-to-population ratio reached 14.6 per cent, which shows early career core working-age Saudis (25–54), the employment-to-population ratio rose to 65.9 per cent, while labor force participation increased to 69.6 per cent. Unemployment for this group declined to 5.4 per labor force participation among young Saudi men (15–24) declined to 33.0 per cent, their unemployment rate also dropped to 11.6 per cent, which signals that many who remain active in the job market are securing positions. However, one of the points of concern remains as youth employment, as the employment-to-population ratio for this group also fell to 29.2 per centAmong older Saudis (55+), both labor force participation and unemployment rates dropped compared to Q4 of achieved its Vision 2030 unemployment target of 7 per cent in 2024, the Saudi government has revised its target to 5 per cent by International Monetary Fund , in its latest review, commended the labor market reforms that enabled this GASTAT report also highlighted the most popular job search methods. Around 75.8 per cent of job seekers directly approached employers, followed closely by 74.6 per cent who used the national unified employment platform, addition, 64.5 per cent reported posting or updating their CVs on professional social media platforms.
Time of India
3 hours ago
- Business
- Time of India
Saudi Arabia's overall unemployment falls to just 2.8 per cent, with women leading the charge
Live Events What is driving Saudi Arabia's reduced unemployment rate Vision 2030 Goals Recalibrated How Saudis search for jobs (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel The unemployment rate among Saudi nationals dropped to an all-time low of 6.3 per cent in the first quarter of 2025, marking the lowest level since the Kingdom began publishing labor force data, according to the latest figures released by the General Authority for Statistics (GASTAT).This historic decline was largely attributed to Saudi women's increasing participation in the labor market and ongoing labor market reforms under Vision female unemployment rate fell to a record-low 10.5 per cent, a year-on-year drop of 3.6 percentage the labor force participation rate among Saudi women increased by 0.3 percentage points to 36.3 per cent, while the employment-to-population ratio rose by 0.7 percentage points to 32.5 per unemployment rate among Saudi men also continued its downward trend, falling slightly to 4.0 per cent, a year-on-year decline of 0.2 percentage the broader labor market, including both Saudis and non-Saudis, the overall unemployment rate fell to 2.8 per cent in Q1 2025, compared to 3.5 per cent during the same quarter a year economic empowerment initiatives were a major factor in the unemployment decline in Saudi Arabia. The labor force participation rate for Saudi women increased to 36.3 per cent, while their unemployment rate dropped from 14.1 per cent to 10.5 per cent over the past young Saudi women aged 15–24, participation rose to 18.4 per cent and the employment-to-population ratio reached 14.6 per cent, which shows early career core working-age Saudis (25–54), the employment-to-population ratio rose to 65.9 per cent, while labor force participation increased to 69.6 per cent. Unemployment for this group declined to 5.4 per labor force participation among young Saudi men (15–24) declined to 33.0 per cent, their unemployment rate also dropped to 11.6 per cent, which signals that many who remain active in the job market are securing positions. However, one of the points of concern remains as youth employment, as the employment-to-population ratio for this group also fell to 29.2 per centAmong older Saudis (55+), both labor force participation and unemployment rates dropped compared to Q4 of achieved its Vision 2030 unemployment target of 7 per cent in 2024, the Saudi government has revised its target to 5 per cent by International Monetary Fund , in its latest review, commended the labor market reforms that enabled this GASTAT report also highlighted the most popular job search methods. Around 75.8 per cent of job seekers directly approached employers, followed closely by 74.6 per cent who used the national unified employment platform, addition, 64.5 per cent reported posting or updating their CVs on professional social media platforms.
Saudi Gazette
6 hours ago
- Business
- Saudi Gazette
Saudi Arabia's net FDI jumps 44% to SR22 billion in Q1 2025
Saudi Gazette report RIYADH — The net foreign direct investment (FDI) inflows in Saudi Arabia jumped 44 percent to SR22.2 billion during the first quarter of 2025 compared to the same quarter last year. However, this figure recorded a seven percent decrease from Q4 of 2024, according to the Foreign Direct Investment Statistics bulletin for Q1 2025 published on Sunday by the General Authority for Statistics (GASTAT). The report showed that FDI outflows from the Kingdom totaled approximately SR1.8 billion in Q1 2025, reflecting a 54 percent decline from the same quarter in 2024, while increasing by 7 percent from Q4 of 2024. FDI inflows into the Kingdom reached about SR24 billion, a 24 percent increase from SR19.4 billion in Q1 2024, though they declined by 6 percent from Q4 2024. According to GASTAT, FDI reflects a long-term relationship and a permanent interest of economic entities residing in an economy other than the Saudi economy. This means that an individual foreign investor or a group of foreign investors owns 10 percent or more of the voting power of shareholder rights.
Leaders
9 hours ago
- Business
- Leaders
Unemployment Rate Among Saudis Drops to Historic Low of 6.3% in Q1 2025
The results of the Q1 Labor Force Survey, released today by the General Authority for Statistics, show that the unemployment rate among Saudis has declined to a historic low of 6.3% in the first quarter of 2025, down from 7% at the end of Q4 2024. This marks the lowest unemployment level ever recorded in the Kingdom, surpassing the Saudi Vision 2030 target of reducing unemployment to 7%. The Ministry of Human Resources is now aiming for a new target of 5%. The unemployment rate among Saudi males stood at approximately 4.0%, while the rate among Saudi females reached 10.5%. For non-Saudis, the unemployment rate was 0.8%. According to the Authority, based on labor force survey estimates, the overall unemployment rate for the working-age population was 2.8% in Q1 2025, compared to 3.5% in Q4 2024. The data also showed a rise in the labor force participation rate for Saudi males, reaching 66.4% in Q1 2025. The labor force participation rate among Saudi females also increased, reaching 36.3% in the same period. It is worthy to note that the Northern Borders Region recorded the highest overall unemployment rate among Saudi regions at 5.1%, while Riyadh and the Eastern Province reported the lowest rates at 1.4% and 1.9%, respectively. Related Topics: GASTAT: Saudi Arabia's Unemployment Rate Declines to 3.5% in Q4 2024 Riyadh Fashion Week, Latest Edition Presents 'Power of Women' Collection Rate of Saudi women's empowerment 'technically' jumps from 7% to 33% Saudi Arabia's Vision 2030 : A Catalyst for empowering women Short link : Post Views: 4
Saudi Gazette
9 hours ago
- Business
- Saudi Gazette
Saudi unemployment drops to record low of 6.3% in Q1 2025
Saudi Gazette report RIYADH — The unemployment rate among Saudi nationals dropped to an all-time low of 6.3% in the first quarter of 2025, marking the lowest level since the Kingdom began publishing labor force data, according to the latest figures released by the General Authority for Statistics. This historic decline was largely attributed to the increasing participation of Saudi women in the labor market. The female unemployment rate fell to a record-low 10.5%, a year-on-year drop of 3.6 percentage points. Meanwhile, the labor force participation rate among Saudi women edged up by 0.3 percentage points to reach 36.3%, while the employment-to-population ratio rose by 0.7 percentage points to 32.5%. The unemployment rate among Saudi men also continued its downward trend, falling slightly to 4.0%, a year-on-year decline of 0.2 percentage the broader labor market, including both Saudis and non-Saudis, the overall unemployment rate fell to 2.8% in Q1 2025, compared to 3.5% during the same quarter a year Kingdom had initially set an ambitious Vision 2030 target to reduce Saudi unemployment to 7% by the end of the decade, an objective it surpassed ahead of schedule by the end of 2024. As a result, the government has revised its target downward to 5% by its concluding statement last week following Article IV consultations, the International Monetary Fund (IMF) commended Saudi Arabia's ongoing labor market reforms, noting that the unemployment rate among Saudi citizens had already dropped to 7% in 2024, well ahead of Vision 2030 targets.
