Unemployment Rate: Saudi Arabia
Saudi Arabia's unemployment rate is currently 3.5% as of 2024. # Saudi Arabia Unemployment Rate Saudi Arabia's unemployment rate stands at 3.
Current (2024)
3.5%
-12.5% y/y
Peak (2020)
7.7%
Low (2024)
3.5%
Source
IMF World Economic Outlook
1999–2024 · 26 pts
Unemployment Rate — Saudi Arabia
1999 — 2024
Unemployment Rate — Saudi Arabia
Analysis# Saudi Arabia Unemployment Rate
Saudi Arabia's unemployment rate stands at 3.5% in 2024, matching its all-time low since data collection began in 1999. This represents a dramatic 18.6% decline from the 1999 baseline and reflects a significant tightening of the labor market. The current rate sits well below the peak of 7.7% recorded in 2020, when pandemic disruptions temporarily spiked joblessness across the economy.
The recovery from the 2020 spike has been steep and sustained. Unemployment fell from 6.1% in 2021 to 3.5% by 2024, a period of continuous improvement that accelerated particularly between 2022 and 2023. This downward trajectory suggests structural labor market improvements, likely driven by Saudi Arabia's economic diversification efforts and Vision 2030 initiatives. With unemployment at historic lows, further reductions may face natural constraints.
Historical Data
26 Rows| Year | Value | Change % |
|---|---|---|
| 2024 | 3.5% | -12.50% |
| 2023 | 4.0% | -18.37% |
| 2022 | 4.9% | -19.67% |
| 2021 | 6.1% | -20.78% |
| 2020 | 7.7% | +37.50% |
| 2019 | 5.6% | -6.67% |
| 2018 | 6.0% | +1.69% |
| 2017 | 5.9% | +5.36% |
| 2016 | 5.6% | +0.00% |
| 2015 | 5.6% | -1.75% |
| 2014 | 5.7% | +1.79% |
| 2013 | 5.6% | +1.82% |
| 2012 | 5.5% | -5.17% |
| 2011 | 5.8% | +5.45% |
| 2010 | 5.5% | +1.85% |
| 2009 | 5.4% | +3.85% |
| 2008 | 5.2% | -7.14% |
| 2007 | 5.6% | -11.11% |
| 2006 | 6.3% | +3.28% |
| 2005 | 6.1% | +5.17% |
Show all 26 rows
| Year | Value | Change % |
|---|---|---|
| 2004 | 5.8% | +3.57% |
| 2003 | 5.6% | +5.66% |
| 2002 | 5.3% | +15.22% |
| 2001 | 4.6% | +0.00% |
| 2000 | 4.6% | +6.98% |
| 1999 | 4.3% | — |
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