More women find work as Saudi unemployment rate steadies

New data shows unemployment rate in Saudi Arabia remained unchanged at 12.9% in the second quarter of 2018
More women find work as Saudi unemployment rate steadies
Labour force participation rate rose among Saudi females, rising to 19.6 percent at the end of June.
By Sam Bridge
Thu 01 Nov 2018 02:05 PM

Unemployment in Saudi Arabia remains at nearly 13 percent, according to new data released by the country's General Authority for Statistics (GaStat).

The unemployment rate remained unchanged at 12.9 percent in the second quarter of 2018 compared to the previous quarter, said analysts Jadwa Investment.

It said the labour force participation rate rose among females, rising from 17.4 percent in Q2 2017 to 19.6 percent at the end of this June, indicating more enthusiasm among females to join the workforce.
Jadwa said that with increasing number of females joining the labour market, the female labour force participation rate rose, but the number of unemployed females is still higher than unemployed males.
At the beginning of this month, the Ministry of Labour and Social Development announced 68 new initiatives to stimulate Saudization in the private sector, distributed between job seekers and employers.

In addition, the Minister of Labour has recently stated that the unemployment target is 10.5 percent by 2022.

Jadwa said the total number of foreigners in the Saudi labour market has declined by around 1.1 million since the start of 2017, with 312,000 leaving the market between March and June.
Data also shows that all sectors saw a drop in the number of foreign workers, with construction losing the biggest number by 187,000 workers, followed by trade with 65,000 workers.
At the same time, two sectors showed a marginal increase in the number of Saudi workers during Q2, with mining and quarrying and financial services seeing numbers rise by 1,800 in each.

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