2023-07-02 17:28:36
Saudi Arabia’s unemployment rate declined in the first quarter of 2023 as labor market indicators in the kingdom improved, including more women entering the workforce, data from the government.
The overall unemployment rate, which takes into account Saudi citizens and expatriates, fell to 5.1% in the January-March period from 6% in the same period in 2022, the General Authority for Labor said. statistics (Gastat) in its quarterly report. For Saudi nationals, the rate stood at 8.5% in the first quarter, down from 10.1% in the first quarter of 2022.
The unemployment rate for Saudi women fell sharply to 16.1% from 20.2% a year ago, while it reached 4.6% for men, down from 5.1 % one year earlier.
Saudi Arabia is working to diversify its economy away from oil through a number of government programs aimed at stimulating economic activity and creating jobs. The ambitious Vision 2030 program plans to reduce the Saudi unemployment rate to 7% and increase the participation of women in the labor force.
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