RIYADH, March 28 (Reuters) - Unemployment among Saudi citizens decreased to 7.7% in the fourth quarter of last year, down from 8.6% in the previous quarter, and from 8% in the same period a year earlier, according to government data released Thursday.
The overall rate of unemployment, which includes expat labor, fell to 4.4% in Q4, down from 5.1% in previous quarter and 4.8% in Q4 the prior year, said the General Authority for Statistics.
Foreign nationals comprise just over 40% of the kingdom's total population according to the latest census, the majority of whom need an employment contract to live in the country.
Saudi unemployment remained relatively steady in 2023, hovering around 8% with slight variations.
Job creation for Saudi nationals, over 60% of whom are under the age of 30, is a one of the goals of de-facto ruler Crown Prince Mohamed Bin Salman's Vision 2030 program, which aims to wean the country off oil dependency.
(Reporting by Pesha Magid; editing by Christina Fincher)
