Yambu: There has reportedly been a huge increase in native participation in the local labor market. In the first half of this year, the number of Saudi men and women working in the local job market surpassed 1,88,000.
This is the data released by the local newspaper on the basis of government reports. The report also states that an average of 1039 natives are hired every day. The total number of Saudis working in the labor market has already reached 36.4 lakh. This is a 5.45% increase over last year’s stats.
The figures highlighted that the participation of Saudi women in the labor market is on the rise and the number has risen to around 13.8 lakh. This is an increase of 8.34% compared to last year: more than 1,06,000 women have just entered the labor market. An average of 585 new Saudi women enter the workforce every day.
More than 82,000 people entered the world of work in the first six months of this year. This raised their occupancy rate to 3.77%, the figures also revealed. About 358,000 men and women entered 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 pointed out that more than 936,000 expatriates and men entered the job market in the first six months of this year, registering a 9.76 percent increase. Human Resources and Social Development Minister 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%. The Ministry of Human Resources and Social Development also said it will try to reduce the unemployment rate to 7%, which is the target of the country’s comprehensive development plan “Vision 2030”.
