There has been a decrease in the unemployment rate among Saudis, reaching 8.3 percent in the second quarter of 2023 compared to 8.5 percent in the first quarter of the current year, according to the latest figures released by the General Authority for Statistics (GASTAT). In the labor market bulletin published on its official website www.stats.gov.sa on Thursday, GASTAT stated that the total unemployment rate, covering both Saudis and expatriates, recorded a decrease, reaching 4.9 percent during the second quarter of 2023 compared to the first quarter of the year. According to the figures, the unemployment rate among Saudi women decreased during the second quarter of 2023, reaching 15.7 percent compared to 16.1 percent in the previous quarter, while the unemployment rate for Saudi men stabilized during the second quarter of 2023 at 4.6 percent. There was also a decrease in the overall labor force participation rate among Saudis and non-Saudis, reaching 60.8 percent during the period compared to the first quarter of 2023. The labor force participation rate for the total number of Saudis also decreased for the second quarter of 2023, reaching 51.7 percent compared to the previous quarter. The bulletin also reported a decrease in the labor force participation rate of Saudi women in the second quarter of 2023, reaching 35.3 percent compared to the previous quarter, and a decrease in the labor force participation rate for Saudi men in the second quarter of 2023, reaching 67.5 percent compared to 68.3 percent in the previous quarter. It is noteworthy that the authority’s labor market bulletin relies on its results on a household survey conducted by GASTAT that falls under the classification of social statistics where information is collected through a sample of families, representing the population of various administrative regions across the Kingdom. It involves filling up an electronic form containing a number of questions, and through this survey, estimates and indicators are provided related to the workforce among the age group of 15 years and above. These positive results of the Saudi labor market reflect the utmost keenness of the leadership to eradicate unemployment among Saudi men and women, and its interest in the necessity of providing job opportunities, and its support for the development and well-being of citizens with provision of opportunities for a decent life. The Saudization programs and initiatives of the Ministry of Human Resources and Social Development have contributed to supporting the private sector establishments to witness a decrease in the unemployment rate of the total population in the second quarter of 2023, reaching 4.9 percent compared to 5.8 percent in the second quarter of 2022, and a decrease in the unemployment rate compared to 5.1 percent in the first quarter of 2023. The unemployment rate for the total number of Saudis decreased significantly in the second quarter of 2023, reaching 8.3 percent compared to 9.7 percent in the second quarter of 2022, and a decrease compared to 8.5 percent in the first quarter of 2023. The unprecedented historical decline in the unemployment rate of Saudi women was also achieved in the second quarter of 2023, reaching 15.7 percent, in line with the goals of Vision 2030 to empower women and enhance their economic participation. As a result of the ministry’s initiatives to support their participation in the labor market by providing a favorable work environment. The decline in the unemployment rate of Saudi men continued in the second quarter of 2023 reaching 4.6 percent, compared to 4.7 percent in the second quarter of last year, thanks to the ministry’s efforts to provide job opportunities for Saudis in the private sector, and to improve the attractiveness of the labor market to employ Saudi cadres, in response to the Vision’s goals to create job opportunities for the nation’s sons and daughters. The labor force participation rate for the total number of Saudi men and women aged 15 years and above reached about 51.7 percent in the second quarter of 2023, largely stable compared to 52.4 percent in the first quarter of 2023, while it was 51.8 percent in the second quarter of 2022. Within the framework of the policy of preparing citizens to invest in opportunities and enhancing participation, in line with the goals of the Vision 2030, the Human Resources Development Fund (HADAF) has contributed to supporting 1.4 million Saudis through training, empowerment and guidance support programs during the first half of 2023, while 79000 establishments have benefited from the support of HADAF in various regions of the Kingdom. About 95 percent of them are medium, small and micro enterprises, and the support expenses provided to empower Saudis exceeded SR4.6 billion during the first half of 2023, the GASTAT bulletin pointed out.