RIYADH. Saudi Arabia’s labor market demonstrated dynamic shifts in the third quarter of 2024, with both gains and challenges across different demographic segments, according to the latest report from the General Authority for Statistics (GASTAT).
Key Employment Indicators
The Saudi unemployment rate reached 7.8% in Q3 2024, showing a quarterly increase of 0.7 percentage points. However, the figure represents a 1.0 percentage point improvement from the same period last year. Overall labor force participation climbed to 66.6%, marking a 0.4 percentage point increase from Q2.
Saudi Nationals’ Participation
The Saudi workforce showed positive momentum:
- Labor force participation rose to 51.5% (up 0.7 percentage points)
- Employment-to-population ratio reached 47.4% (up 0.2 percentage points)
- Annual growth in employment ratio hit 1.1 percentage points
Women in the Workforce
Female participation continued its upward trajectory:
- Overall participation reached 36.2% (up 0.8 percentage points)
- Employment ratio increased to 31.3% (up 0.5 percentage points)
- Young women (15-24) showed increased participation at 18.0% (up 1.0 percentage point)
- Youth employment ratio climbed to 13.6%
Male Participation Trends
Male workforce indicators also strengthened:
- Overall participation reached 66.9% (up 0.6 percentage points)
- Employment ratio hit 63.7%
- Youth participation increased to 34.6% (up 1.1 percentage points)
Core Working Age Performance
The 25-54 age group showed solid growth:
- Participation rate: 69.4% (up 0.7 percentage points)
- Employment ratio: 64.8% (up 0.3 percentage points)
Job Search Methods
The report revealed that Saudi job seekers use an average of 5.0 different methods to find employment:
- 87.7% rely on networking through friends/relatives
- 75.0% apply directly to employers
- 71.2% use the Jadarat employment platform
This comprehensive data paints a picture of a labor market in transition, with increasing participation across demographics despite some short-term challenges in unemployment rates.