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Saudi Labor Market Records Highest Citizen Participation in Private Sector

Self-service job search devices in the Saudi job market (Asharq Al-Awsat)
Self-service job search devices in the Saudi job market (Asharq Al-Awsat)
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Saudi Labor Market Records Highest Citizen Participation in Private Sector

Self-service job search devices in the Saudi job market (Asharq Al-Awsat)
Self-service job search devices in the Saudi job market (Asharq Al-Awsat)

The number of Saudi nationals in the private sector rose to 2.2 million in the second quarter of 2023.

With the close of last September, the General Authority for Statistics (GASTAT) revealed a decrease in the unemployment rate among Saudis in the second quarter of 2023, dropping from 9.7% to 8.3%, compared to the same period last year.

This figure approaches the government’s targets in Vision 2030, which are set at 7%.

On Monday, the National Labor Observatory, a part of the Human Resources Development Fund (HRDF), disclosed that the total growth in the number of Saudi workers in comparison to the same quarter of 2022 reached approximately 210,000 employees, with an average growth of 42,000 employees per quarter until the end of the second quarter of 2023.

The expansion in the number of citizen workers in the private sector can be attributed to the positive economic growth witnessed in the Saudi economy.

This growth has contributed to increasing the overall labor market size, strengthening demand for labor, and boosting productivity rates in the market.

The Observatory released a report on Saudization for the second quarter of the current year, which reviews changes in the labor market and job localization rates in private sector establishments.

The report showed that the number of Saudi employees recorded the most significant increase for both genders, with males standing at 1.3 million, compared to about 900,000 females, bringing the total Saudization rate to 22.3%

The Eastern Province took the lead, recording the highest Saudization rate of 27 percent, followed by Makkah at 24 percent and Riyadh and Madinah at 21 percent each.

The information and communications sector also achieved a strong participation rate for male citizens, reaching 60%, while education achieved the highest engagement of female citizens at 53%.

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Saudi Arabia Expands Efforts to Integrate into Global Supply Chains

Al-Falih speaking during the 28th Annual World Investment Conference in Riyadh (Asharq Al-Awsat)
Al-Falih speaking during the 28th Annual World Investment Conference in Riyadh (Asharq Al-Awsat)
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Saudi Arabia Expands Efforts to Integrate into Global Supply Chains

Al-Falih speaking during the 28th Annual World Investment Conference in Riyadh (Asharq Al-Awsat)
Al-Falih speaking during the 28th Annual World Investment Conference in Riyadh (Asharq Al-Awsat)

Saudi Arabia is intensifying its efforts to secure access to essential materials, promote local manufacturing, enhance sustainability, and strengthen its participation in global supply chains. This follows Minister of Investment Khalid Al-Falih’s announcement of nine new agreements, alongside 25 additional deals under review, under the Global Supply Chain Resilience Initiative (Jusoor).
Speaking during the 28th Annual World Investment Conference in Riyadh, Al-Falih described these agreements as a major step toward building more resilient and efficient supply chains in the Kingdom.
He noted that the program, which reflects the vision of Crown Prince Mohammed bin Salman, forms part of the National Investment Strategy and is supported by government programs such as the National Industrial Development and Logistics Program (NIDLP).
Al-Falih highlighted Saudi Arabia’s plans to facilitate access to critical minerals, promote local manufacturing, and expand its footprint in global green energy markets. He emphasized that “green supply” is a fundamental pillar of the initiative, supported by investments in renewable energy.
The Kingdom aims to develop 100 new investment opportunities across 25 value chains, including projects in green energy and artificial intelligence (AI), he underlined.
The government is also offering incentives for companies to invest in special economic zones and aims to attract investments in emerging sectors such as semiconductors and digital manufacturing. Al-Falih stressed the importance of collaboration between public and private sectors in advancing Saudi Arabia’s Vision 2030 goals.
He reiterated the government’s full commitment to realizing this vision, with ministries continuing to support this strategic initiative focused on sustainable development and the localization of advanced industries.
Minister of Industry and Mineral Resources Bandar Al-Khorayef announced that Saudi Arabia has attracted over $160 billion in investments to its market—nearly triple previous figures. Capital in the mining sector has grown to $1 billion, while investments in mineral wealth have exceeded $260 million.
Al-Khorayef underlined the Kingdom’s commitment to building strong, reliable partnerships through strategies that prioritize supply chain development and sustainability. He identified the Jusoor initiative as a key mechanism for linking Saudi Arabia to global supply chains, tackling challenges such as energy transitions and the growing demand for critical minerals.
For his part, Minister of State and Cabinet Member Dr. Hamad Al-Sheikh, who also serves as Secretary-General of the Localization and Balance of Payments Committee, highlighted Saudi Arabia’s strategic investments in infrastructure, saying that these efforts aim to position the Kingdom as a leading global logistics hub.