Unemployment rate in Saudi Arabia drops to 5.5%
Thursday, 12 19 2019, Category: Economy, Country: Saudi Arabia
The General Authority for Statistics has issued a labor market bulletin for the third quarter of 2019, showing that the unemployment rate decreased to 5.5 percent, compared to 5.6 percent for the second quarter of the same year.
The results showed a decrease in the unemployment rate for the total Saudi population to 12.0 percent, compared to 12.3 percent for the second quarter of the same year.
It also revealed an increase in the participation rate of the total population, which scored 45.5 percent for the third quarter of 2019, compared to 45 percent for the previous quarter, while the economic participation rate for Saudi women remained at 23.2 percent for both periods.
According to the bulletin, the total number of Saudi workers reached 3,100,812 employees, compared to 3,090,248 in the second quarter.
The Ministry of Civil Service and the Human Resources Development Fund said the total number of Saudis looking for jobs during the third quarter of 2019 was 1,025,328.
Source: Arab News