Saudi unemployment falls 5.8% in Q3

Saudi Arabia’s unemployment rate fell 5.8 per cent in the third quarter of 2017 compared with the second quarter, according to the General Authority of Statistics.

A report by the authority showed that  unemployment among women fell to 21.1 per cent in Q3 compared to 22.9 per cent in the previous quarter, while the overall unemployment rate among Saudis was stable at 12.8 per cent, despite an increase in the number of new jobseekers.

During this period there were 1,231,549 Saudi jobseekers, largely made up of women who accounted for 1,040,727 while male jobseekers totalled 190,822, according to the report. Just over 31 per cent of these jobseekers were aged 25-29 years old, and 45.8 per cent were holders of university degrees.

The report also showed that young men and women make up 36.7 per cent of Saudi Arabia’s population, and that 54.8 per cent of the population is involved in economic activities – 78.4 per cent of whom are men, and 19.9 per cent women.

Some 509,180 visas were issued during Q3 2017, with 22.3 per cent issued in the public sector, and 39.9 per cent in the private sector. Around 37.8 per cent of visas were issued to recruit domestic workers.

Saudi Arabia is currently in 12th position among G20 nations in terms of the average fall in the rate of unemployment during the third quarter.