Saudis control 81% of new jobs in Kingdom’s economy

Official data revealed that the Saudi economy, since the launch of the Kingdom’s Vision 2030, has been able to generate 588,622 new jobs, of which Saudis acquired about 81%, and foreigners 19%, in a new indicator of the ability of the Saudi economy to overcome all conditions and crises witnessed by global economies, beginning with the Corona crisis and the crisis, the Russian-Ukrainian economy still casts a shadow over the global economy

According to the data of the General Authority for Statistics, the number of workers in the Saudi economy increased by the end of the second quarter of this year to 14,169,763 workers, compared to 13,581,141 workers at the end of 2017, meaning that during four and a half years, the Saudi economy added 588,622 new jobs in light of the great momentum witnessed by the economy Supported by the Kingdom’s Vision 2030 programs, which have proven effective in light of what global economies have suffered from in recent years.

The data show great success for the localization policies, which were able to shift the employment compass in the Kingdom towards the Saudis, after that compass had been for many years heading towards foreigners with any growth or recovery in the economy. According to the data, the number of Saudis working in the economy increased to 3,638,144 Saudis by the end of the quarter. The second of this year, compared to 3,163,846 Saudi men and women at the end of 2017, meaning that 474,298 Saudi men and women entered the labor market during the 4.5-year period, representing 81% of the jobs generated by the Saudi economy during that period.

For the first time, the number of Saudis working in the private sector exceeds the level of 2.2 million Saudi men and women, as the employment compass in the private sector has shifted significantly as a result of the programs to localize activities to Saudis, which represented a new transfer to the Saudi labor market, especially the private sector, which was acquired by foreigners. ,

At a time when the first years of implementing labor market policies and programs witnessed the exit of large numbers of foreigners, the Saudi economy has returned this year and as a result of the strong momentum and growth it is witnessing in attracting 114,324 foreigners, bringing the number of foreigners working in the Kingdom to 10,531,619 by the end of the second quarter. of the current year compared to 10,417,295 foreigners by the end of 2017.

According to the data, Saudi women had the largest share of jobs, as the number of employed women increased to 1,375,609 Saudi women at the end of the second quarter of this year, compared to 1,017,090 Saudi women at the end of 2017, meaning that the four and a half years witnessed the employment of 358,529 Saudi women, constituting 61% of the total number of jobs. The jobs generated by the Saudi economy during that period, and 76% of Saudi males and females who were employed.

The focus of resettlement policies on empowering Saudi women formed a main pillar in absorbing unemployment among Saudis, as the unemployment rate for Saudis recorded its lowest level at 9.7%, as a result of the significant decrease in the unemployment rate for Saudi women from 33% at the end of 2017 to 19.3% at the end of the quarter. In the second quarter of this year, while male unemployment decreased from 7.2% at the end of 2017 to 4.7% at the end of the second quarter of this year.