The unemployment rate among Saudis fell to 6.4% during the first quarter of this year, compared to 7.2% for the previous quarter, approaching its lowest historical level of 6.3%.
The results reflect the continued strength of the Saudi labor market despite the uncertainty imposed by geopolitical developments in the region.
Data from the General Authority for Statistics in the Kingdom showed that the overall unemployment rate (for Saudis and non-Saudis) decreased to 3.1% during the first quarter, compared to 3.5% in the previous quarter.
Saudi Arabia had achieved its Vision 2030 target of reducing unemployment to 7% more than five years ahead of schedule, after the rate reached the end of 2024, which prompted the government to raise the ceiling of ambition and reduce the target to 5% by 2030.
Exceptional jump in profits for the Saudi sovereign wealth fund-
Saudi Arabia’s Public Investment Fund (PIF), the sovereign wealth fund, announced that its net profit more than doubled to SAR 65.1 billion (approximately $17.33 billion) in 2025.
This was accompanied by a 9% increase in revenues last year to 449.9 billion riyals from 413 billion, while operating profit jumped to 77.9 billion riyals from 34.6 billion, with total assets growing by five percent to 4.54 trillion riyals.
This was supported by revenue growth, improved operational performance, and a decline in administrative expenses.
The fund, with assets worth $925 billion, is the primary arm tasked with implementing the "Vision 2030" agenda, which includes dozens of mega-projects such as NEOM in the northwest of the Kingdom. However, this task has become more difficult in light of the government budget deficit and reduced spending resulting from the decline in oil prices.
(US Dollar = 3.75 Saudi Riyals)
