Yambu: There has reportedly been a huge increase in indigenous participation in the local labor market. In the first half of this year, the number of Saudi men and women working in the local labor market was more than 1,88,000.
This is the figure released by the local newspaper based on government reports. The report also states that an average of 1039 natives are newly employed every day. The total number of Saudis working in the labor market has already reached 36.4 lakh. This is an increase of 5.45 per cent compared to last year’s statistics.
The figures highlighted the fact that the participation of Saudi women in the labor market is increasing and the number has increased to about 13.8 lakhs. This is an increase of 8.34 percent compared to last year, with more than 1,06,000 new women joining the labor market. An average of 585 new Saudi women join the workforce every day.
More than 82,000 people started employment in the first six months of the current year. This has increased their employment rate to 3.77 per cent, the figures also revealed. Around 358,000 men and women joined the workforce in the last 12 months. The economic boom has seen steady growth in the regional sector.
The number of non-Saudi workers is around 1 crore 5.3 lakh. The local newspaper noted that more than 936,000 female and male expatriates joined the labor market in the first six months of this year, registering an increase of 9.76 percent. The Minister of Human Resources and Social Development, Ahmed Al Rajhi, recently revealed that the number of Saudi women and men working in the private sector has reached 22 lakh.
Unemployment in Saudi Arabia fell to a 20-year low of 9.7 percent. The Ministry of Human Resources and Social Development has also stated that it will try to reduce the unemployment rate to 7 percent, which is the goal of the country’s comprehensive development plan ‘Vision 2030’.
