Saudi contribution to labor market grew by 49% during the vision period

The number of Saudi subscribers to the labor market subject to social insurance systems increased to 2.7 million subscribers, achieving an amazing increase of 49% during the vision period, reflecting the joining of about 912 thousand new subscribers.

As for the total subscribers to the labor market, whether Saudis or non-Saudis, it recorded a significant increase at the end of the second quarter of 2024, reaching 11.7 million subscribers, with a growth of up to 13.6% during the vision period, indicating an increase estimated at about 1.3 million subscribers.

The data indicates that the share of Saudis of the total subscribers subject to social insurance systems is estimated at about 23.7%, while the share of non-Saudis constitutes 76.3%.

As for jobs in the private sector subject to social insurance systems, their percentage reached about 95%, with an estimated number of 11.1 million subscribers, compared to 5% for government jobs, which include about 567.6 thousand subscribers.

At the end of the second quarter of 2024, the share of males was estimated at about 61%, while females constituted about 39% of the total jobs of Saudis.

The Riyadh region topped the scene, as it acquired the largest percentage of participants at 47%, followed by the Eastern Region, which came in second place with a share of 19%, while the Makkah Al-Mukarramah region came in third place with a share of up to 18%. Thus, these three regions dominate 84% of the total subscribers in the labor market.

As for professions, primary professions occupied the lead with a share of nearly 39%, while specialized professions came in second place with a share of 13%. Craftsmen came in third with a share of 11%, while factory and machinery operators came in fourth with 10%.

Technicians and assistant specialists came in fifth with a share of nearly 9%, while service and sales workers came in sixth with a share of 8%. Office support workers came in seventh with a share of 5%.

Managers came in eighth with a share of 3%, while other professions came in ninth with a small share of 1%. Finally, skilled workers in agriculture, forestry and fish farms came in last, reflecting the challenges facing this group.

The Kingdom’s Vision 2030 aims to raise the private sector’s contribution to the GDP to 65% by the end of 2030. The vision also aims to reduce unemployment rates to their lowest levels, as the vision relies heavily on the non-oil economy, and more specifically on the private sector. It is expected that the vision’s programs will contribute significantly to raising the efficiency of the non-oil economy, and more specifically to raising the quality of jobs in the private sector, as the Public Investment Fund has established many private companies that will raise the efficiency of economic sectors and increase the number of Saudis in the private sector.