Saudi Arabia: Unemployment falls to lowest in five years

The drop is partly caused by people dropping out of the workforce altogether.

Unemployment among Saudi Arabia’s citizens fell to its lowest level in nearly five years, but the decline was partly driven by people dropping out of the labor force, unwelcome news for a crown prince who has put job creation for a youthful population at the center of his agenda. The jobless rate decreased to 11.7% in the first quarter compared to 12.6% in the fourth quarter, continuing a strong downward trend after hitting a record at the height of the pandemic, according to data from the General Authority for Statistics. However, labor force participation for citizens also fell, from 51.2% in the fourth quarter to 49.5% in the first three months of the year — the sharpest drop since an economic downturn in 2017.