SAUDI LABOR MARKET EXPANDS WITH 3.64 MILLION LOCAL HIRINGS

In the first half of 2022, there were more than 188,000 Saudi men and women working in the local labor market. This demonstrates that during that time, an average of 1039 Saudis each day entered the labor force. As a result, there are currently around 3.64 million Saudis who are employed. When compared to the data at the end of 2021, this figure represented a rise of 5.45%.

The monitoring indicated that Saudi women’s employment continues to grow rapidly, with a total of 1.38 million Saudi women now employed locally, an increase of 8.34 percent over the previous year. More than 106,000 Saudi women joined the workforce, with 585 of them working on a daily average.

The number of working men in Saudi Arabia increased to 2.26 million, with more than 82,000 people joining the workforce in the first half of the current year. Their employment rate rose to 3.77 percent as a result.

In a 12-month period beginning in the third quarter of 2021 and ending in the second quarter of the current year 2022, the average number of Saudi workers increased continuously for the fourth consecutive quarter, with about 358,000 male and female residents joining the labor force.

The local economy has been seeing consistent expansion due to the economic boom, and as a result, the number of non-Saudi workers has surpassed the 10 million mark, reaching roughly 10.53 million workers, a rise of 9.76 percent. In the first half of 2022, there were more than 936,000 male and female expats who entered the labor force; their average wage is SR5174.

It is interesting that Ahmed Al-Rajhi, minister of human resources and social development, recently disclosed that there were 2.2 million young men and women working in Saudi Arabia. He pointed out that the unemployment rate in Saudi Arabia recorded its lowest level in 20 years at 9.7% and that efforts will be made to bring it down to 7% in order to meet the goal set by the Saudi Vision 2030.

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