The Impact of Educational Level on the Unemployment Rate in Saudi Arabia: A Time Series Quantitative Analysis from 2016 to 2023

Mashael D. Matrafi and Rozina Shaheen

International Journal of Economics and Finance, 2024, vol. 16, issue 10, 74

Abstract: The aim of this research was to investigate the relationship between total unemployment rate as the dependent variable and educational level as the independent variable in the context of the Kingdom of Saudi Arabia (KSA). The labour market during the period 2016-2023 was analysed to determine the effect of the COVID-19-related crisis on the relationship between unemployment and educational level. A quantitative method was used to analyse data from the General Authority for Statistics of the KSA. In addition, a multiple regression analysis using the ordinary least square model was performed using Eviews 12 to analyse the data. The findings from the regression model revealed a positive relationship between educational level and total unemployment rate, with certain education categories significantly impacting the unemployment rate. While the pandemic had a significant short-term impact on the unemployment rate, the effect diminished over time, highlighting the resilience of the educated workforce during the crisis. Therefore, this research provides valuable insights to policymakers, educators, and job seekers. It suggests avenues for future research, emphasising the need for a more extended study period and an exploration of the positive relationship between high educational level and reduced total unemployment rate.

Date: 2024
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