By Muslim Parrot Reporter
The Saudi National Labor Observatory revealed a significant milestone in the country’s labor landscape, with more than 28,100 Saudi nationals embarking on their inaugural journey into the private sector job market in March. These statistics, unveiled on Wednesday, underscore a notable uptick in domestic employment participation.
As of March, the total workforce within the Saudi private sector surpassed 11.2 million individuals. Among them, over 2.3 million were Saudi citizens, constituting a substantial portion of the workforce alongside 8.8 million expatriate workers.
This surge in Saudi employment coincides with a downward trend in unemployment rates among nationals, reaching a commendable 7.7 percent in the final quarter of 2023. This figure inches closer to the ambitious Vision 2030 target of 7 percent unemployment, a feat largely attributed to heightened female workforce engagement and proactive governmental initiatives aimed at bolstering job prospects for Saudi nationals.
According to the observatory’s findings, the male workforce within the private sector stood at 9.9 million, while the number of female employees surpassed 1.3 million. This gender-inclusive participation underscores ongoing efforts to cultivate a diverse and inclusive workforce reflective of Saudi Arabia’s evolving societal dynamics.
The latest statistics paint a promising picture of economic diversification and domestic workforce empowerment, aligning with the broader objectives outlined in Saudi Arabia’s Vision 2030. As the nation continues its trajectory towards sustainable growth and prosperity, the concerted focus on fostering domestic employment opportunities remains pivotal in driving socioeconomic advancement and nurturing a thriving, inclusive economy.