Saudi Arabia’s Unemployment Rate Falls to Record Low of 7%

The unemployment rate in Saudi Arabia dropped to a historic low of 7% in 2024. Originally set as a target for the end of the decade, the goal has been reached six years ahead of schedule, according to the newly released 2024 Vision Saudi Arabia report.

The labour market has shown significant strength, with around 437,000 Saudi nationals securing employment in the private sector during the year. This growth helped bring the total number of Saudi workers in the private sector to approximately 2.4 million, a clear indication of expanding economic opportunities and stronger alignment between supply and demand across industries.

Progress in women’s empowerment was also highlighted in the report. Saudi women now hold 43.8% of middle and senior management positions, the highest figure recorded to date. This reflects the impact of targeted national initiatives designed to promote gender equality and expand women's participation in leadership roles across sectors.