Yambu: Reportedly, there has been a huge increase in native participation in the local labor market. The number of Saudi men and women working in the local labor market exceeded 1,88,000 in the first half of this year.
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 percent compared to last year’s statistics.
The figures pointed out 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. More than 1,06,000 women have newly entered the labor market. An average of 585 new Saudi women enter the workforce every day.
More than 82,000 persons entered employment in the first six months of the current year. This has increased their employment rate to 3.77 percent, the figures also revealed. About 358,000 men and women entered the workforce in the past 12 months. The economic boom has seen steady growth in the regional sector.
The number of non-Saudi workers is about 1 crore 5.3 lakh. The local newspaper pointed out that more than 936,000 female and male expatriates entered 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’.