Saudi Arabia unemployment rate falls to 6.5% in Q1
Thursday,01 July 2021 01:24 PM IST
Riyadh, July 1
Saudi Arabia's unemployment rate fell to 6.5 per cent in the first quarter of 2021, compared to 7.4 per cent of the last quarter in 2020, state media reported.
The General Authority for Statistics measures the rate based on total working-age populations (Saudis and non-Saudis 15 years old and above), Xinhua news agency quoted the state media as saying on Wednesday.
Meanwhile, the unemployment rate of total Saudis decreased to 11.7 per cent in the first quarter of 2021, compared to 12.6 per cent during the fourth quarter of 2020.
The results of the Labour Force Survey also show that the labour force participation rate of the total working-age population increased to 61.1 per cent during the first quarter of 2021 compared to 61 per cent in the fourth quarter of the previous year.
The survey and many other labour initiatives aim to further reduce unemployment rates, along with making Saudis the preferable job candidates in various vacancies through training and government support to the private sector.