Saudi Arabia witnessed a remarkable decline in the unemployment rate among women in the fourth quarter of 2023, signaling a positive trend in the labor market.
According to the Labour Market Publication by the General Authority for Statistics (GASTAT), the unemployment rate among Saudi women dropped to 13.7 percent, marking a significant decrease of 2.6 percent from the previous quarter’s 16.3 percent. Conversely, the unemployment rate among Saudi men remained steady at 4.6 percent during the same period.
Overall, the kingdom experienced an encouraging decrease in the unemployment rate, including both Saudis and non-Saudis, which fell to 4.4 percent from 5.1 percent in the third quarter.
The report attributes these improvements to the concerted efforts of the human resources and social development system, highlighting a historic decline in the unemployment rate among Saudis to 7.7 percent in the fourth quarter, a notable drop of 0.9 percent from the preceding quarter. Additionally, the overall unemployment rate saw a decrease to 4.4 percent in the fourth quarter, reflecting a reduction of 0.7 percent from the third quarter.
The decline in unemployment rates among Saudi women and overall is seen as a result of various initiatives and programs aimed at training, employment, and empowerment. Throughout 2023, approximately 1.9 million Saudi men and women benefited from the Human Resources Development Fund (HADAF) programs, with support expenses exceeding SR8.7 billion.
Furthermore, Saudization initiatives and support for private sector establishments by the human resources and social development system have played a vital role. These efforts have led to a record number of 2,325,814 Saudi employees in the private sector, demonstrating the effectiveness of ongoing strategies to boost employment opportunities and reduce unemployment rates in the kingdom.
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