INSEAD Day 4 - 728x90

FAB profit edges higher

Income growth supports steady earnings.

UAB H1 profit climbs

Income, lending drive first-half growth

Sanad posts record revenue

Growth driven by global demand for services.

Bank of Sharjah profit up 39%

Bank's total assets grow 10% to $14.4 billion.

DIB H1 net profit $1bn

Gross revenue increased 10% year on year

Unemployment rate in Saudi Arabia reduced to 11 percent in Q4 2021

Bank funding represented nearly 98 percent of Saudi corporates’ capital structure in 2021 (WAM)
  • The unemployment rate fell by 0.3 percentage points (pp) from Q3/2021.
  • Also, it lowered by 1.6 pp when compared to a year ago in Q4/2020.

The unemployment rate among Saudi citizens reduced to 11 percent in the fourth quarter of 2021.

The General Authority for Statistics (GASTAT) released the “Labor Market Statistics Q4, 2021, on its official website which revealed this data.

The unemployment rate fell by 0.3 percentage points (pp) from Q3/2021, and lower by 1.6 pp when compared to a year ago in Q4/2020.

Also, the job growth among males kept pace with increases in the participation rate, pushing the unemployment rate down 0.7 pp to 5.2 percent.

According to the report, the unemployment rate of female youth rose 2.4 pp to 25.2 percent in the fourth quarter of 2021.

The labor force participation rate of the total working-age population (Saudis and non-Saudis 15 years and above) edged up 0.3 pp to 61.5 percent.

Meanwhile, the Saudi labor force participation increased to 51.5 percent, said the GASTAT report.