The General Authority for Statistics (GASTAT) issued today, Thursday, 13/3/1445 H, corresponding to September 28, 2023, through its official website www.stats.gov.sa, "Labor Market ؛Publication for the second quarter of 2023." According to the results of this Publication, the overall unemployment rate (for Saudis and non-Saudis) decreased to 4.9% compared to the first quarter of 2023. The unemployment rate for Saudis also decreased, reaching 8.3% for the second quarter of 2023, compared to 8.5% in the first quarter of the same year. Similarly, the unemployment rate for Saudi females decreased to 15.7% for the second quarter of 2023, compared to 16.1% in the previous quarter. It is worth noting that the unemployment rate for Saudi males remained stable at 4.6% during the second quarter of 2023. During the second quarter of 2023, labor force indicators showed a decline in the overall labor force participation rate (for Saudis and non-Saudis), reaching 60.8% compared to the first quarter of 2023. The labor force participation rate for Saudis also decreased to 51.7% in the second quarter of 2023, compared to the previous quarter. The results of the Labor Market Publication for Q2/2023 indicated a decrease in the labor force participation rate for Saudi females, reaching 35.3% compared to the previous quarter. The labor force participation rate for Saudi males also fell to 67.5% during the second quarter of 2023, compared to 68.3% in the previous quarter. It is noted that the Labor Market Publication, as indicated by the General Authority for Statistics, relies on a household survey conducted by GASTAT under the category of "Social Statistics." It collects information through a sample of households that represent the population in various administrative regions in Saudi Arabia. An electronic questionnaire is filled out, containing a number of questions. Through this survey, estimates and indicators related to the labor force of the population in working age group (15 years and above) residing in Saudi Arabia are provided. It also estimates the population (within and outside the labor force) and calculates the most important labor market indicators, such as the unemployment rate and labor force participation rate, among others.

During the second quarter of 2023, the Real Gross Domestic Product (GDP) increased by (1.2٪) compared to the same period of last year 2022. According to GASTAT's estimates in Thursday.  The report results indicated that the non-oil activities registered a positive growth by (6.1٪) during the second quarter of 2023 compared to the percentage registered in the same period of last year 2022.  The government activities achieved an increase of (2.3٪) compared to the same period last year. However, oil activities decreased by (4.3٪) in quarter 2, 2023 compared to the same period of the previous year. The results of the report showed that the seasonally adjusted real GDP decreased by 0.2 % during the second quarter of 2023, compared to the first quarter of 2023. It is worth noting that GASTAT is the only official statistical reference for statistical data and information in Saudi Arabia. It carries out all the statistical work, in addition to the technical oversight of the statistical sector. It also designs and implements field surveys, conducts statistical studies and researches, analyzes data and information, in addition to documenting and archiving all works of information and statistical data that cover all aspects of life in Saudi Arabia from its multiple sources. Data are written, classified, and analyzed; their indicators are extracted as well.

Agricultural Development Fund and General Authority for Statistics signed today, Thursday, 1 Safar 1445 , corresponding to 17 August 2023, in Riyadh, a Memorandum of Cooperation (MoC) to enhance the level of joint coordination in the field of statistical data, which contributes to providing statistical data and information and integration to achieve common goals between the two parties. The MoC was signed by Mr. Munir bin Fahad Alsahali, Director General of the Agricultural Development Fund and Dr. Fahad bin Abdullah Aldossari, President of the General Authority for Statistics. The MoC aims to exchange and share statistical data, information and indicators that serve economic activities supervised by the Agricultural Development Fund in accordance with the controls and specifications of data sharing and protection of personal data issued by National Data Management Office.  It is also intended to exchange advice, support, and technical and knowledge expertise in various areas of common interest including research and studies on a regular and continuous basis and to provide the opportunity for employees of both parties to participate in attending developmental courses, seminars, scientific conferences and workshops presented by both parties. The Agricultural Development Fund seeks through conducting cooperation agreements with other parties to enhance the developmental and financing role in supporting the agricultural sector and the importance of sustainable rural agricultural development in Saudi Arabia.

Consumer Price Index (CPI) reached 2.3% over July 2023, down from June 2023, remaining relatively stable on a monthly basis for 2023. This stability is due to the strength of the Saudi economy along with the early economic procedures and measures taken by Saudi Arabia to counter the global rise in inflation rates. It is worth noting that the inflation rates in Saudi Arabia maintain a reasonable standard and balanced rates compared to most countries in the world. During July 2023, the inflation rate recorded a slight increase of 2.3%, compared to the same month of last year 2022. It is noteworthy that the economies of many countries of the world, including developed countries, have been suffering from sharp increases in inflation rates for several months. Economic experts and analysts confirm that reasonable and balanced inflation rates that any society may witness are part of the dynamism and vitality of the economy in this society and its ability to protect itself from any potential crises. However, unreasonable and unbalanced increase in inflation rates is a negative indicator of the existence of economic recession or serious economic challenges in societies that are witnessing a drop in inflation rates.