Unemployment Down, Number of Women up in Saudi Labor Market in 2023

A general view of Riyadh, Saudi Arabia. (Getty Images)
A general view of Riyadh, Saudi Arabia. (Getty Images)
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Unemployment Down, Number of Women up in Saudi Labor Market in 2023

A general view of Riyadh, Saudi Arabia. (Getty Images)
A general view of Riyadh, Saudi Arabia. (Getty Images)

The Saudi Ministry of Human Resources and Social Development unveiled a series of impressive achievements in the pursuit of a more efficient and effective labor market.

The achievements align with the Kingdom's Vision 2030 and show that priority was given to achieve several key goals: protect workers’ rights, ensure safe and healthy workplaces, nurture national talent, and achieve a sustainable balance in the labor market. To achieve these goals, the ministry has in place appropriate laws and regulations, reported the Saudi Press Agency on Sunday.

The year 2023 witnessed significant progress. Over 1,000 government employees received training at international agencies, which helped improve their work effectiveness. The job engagement index for civil servants surpassed the 2022 target, reflecting a more engaged public sector workforce.

The National Training Campaign (Waad) incentivized the private sector to train workers, with over 16,000 trainees benefiting in various sectors. The skills accelerator program focused on boosting the efficiency of Saudi employees in the private sector, targeting industries with the greatest impact on the national economy.

More than 10,000 individuals benefitted from programs fostering self-employment and specialized skills development. Over 500 people with disabilities were integrated into the workforce in 2023, encouraging them to participate in and contribute to the economy.

The launch of a comprehensive program for reporting work-related accidents underlines the ministry's commitment to workers’ well-being.

The "On Time" campaign has been promoting timely wage payment, with over 700,000 establishments complying with the wage protection system for more than nine million private sector employees.

The ministry's efforts have yielded significant results. The unemployment rate dropped from 12.8% in 2017 to 8.6% in the third quarter of 2023. Working conditions for expatriate workers saw a 73% improvement in 2023 compared to 2020.

The percentage of establishments implementing safety and health measures soared from a mere 15% in 2019 to 71.27% in 2023. Compliance with the wage protection system rose significantly, from 50% in 2017 to 86.9% in the third quarter of 2023.

The percentage of employed individuals with disabilities increased from 7.7% in 2016 to 12.6% in the first half of 2024.

The ministry actively supports working women through dedicated programs. The Wusool transportation program has provided transportation to 234,344 women employed in the private sector.

The Qurrah program, establishing centers for children of working women, has enabled 26,363 women to access childcare services through accredited centers.

Over 25,000 women trainees participated in programs designed to equip them with the skills needed to thrive in the job market.

These initiatives have demonstrably increased women’s participation in the labor market. By the third quarter of 2023, the share of women in the labor market has risen to 34.2%, compared to just 21.2% in 2017. Moreover, the number of women in senior and middle management positions has also seen a significant rise, jumping from 28.6% in 2017 to 43.7% by the third quarter of 2023.

The Ministry of Human Resources and Social Development’s commitment to a more efficient and inclusive labor market is fostering positive change in Saudi Arabia. As these efforts continue, they are expected to have an even greater impact on the Kingdom's workforce and overall economic progress.



Russia’s First Ice-Class LNG Carrier Enters Sea Trials, Data Shows

A concrete gravity-based structure (GBS) of Arctic LNG 2 joint venture is seen under construction in a dry dock of the LNG Construction center near the settlement of Belokamenka, Murmansk region, Russia July 26, 2022. (Reuters)
A concrete gravity-based structure (GBS) of Arctic LNG 2 joint venture is seen under construction in a dry dock of the LNG Construction center near the settlement of Belokamenka, Murmansk region, Russia July 26, 2022. (Reuters)
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Russia’s First Ice-Class LNG Carrier Enters Sea Trials, Data Shows

A concrete gravity-based structure (GBS) of Arctic LNG 2 joint venture is seen under construction in a dry dock of the LNG Construction center near the settlement of Belokamenka, Murmansk region, Russia July 26, 2022. (Reuters)
A concrete gravity-based structure (GBS) of Arctic LNG 2 joint venture is seen under construction in a dry dock of the LNG Construction center near the settlement of Belokamenka, Murmansk region, Russia July 26, 2022. (Reuters)

The first Russian-built ice-class liquefied natural gas (LNG) carrier has entered sea trials, LSEG data showed on Friday, as part of Russia's efforts to raise global LNG market share despite US sanctions.

The tanker, named Alexey Kosygin after a Soviet statesman, was built at the Zvezda shipyard and is due to join the fleet of vessels for Russia's new Arctic LNG 2 plant, which has been delayed because of the US sanctions over the conflict in Ukraine.

The US Treasury has also placed sanctions on the new vessel, which Russia's leading tanker group Sovcomflot ordered to be built at Zvezda, Russia's most advanced shipbuilding yard. LSEG ship-tracking data shows it is anchored near the Pacific port of Vladivostok.

Sovcomflot has not replied to a request for comment.

Novatek, which owns 60% of Arctic LNG 2, has said 15 Arc7 ice-class tankers that are able to cut through two meter (6.5 ft) thick ice to transport LNG from Arctic projects, will be built at Zvezda shipyard.

According to a source familiar with the matter, Novatek shut down commercial operations at the first and only operational train of its Arctic LNG 2 project in October with no plans to restart it during winter.

Ice-class tankers usually have double hulls - strengthened structures to withstand the pressure of ice - and reinforced propellers.

So far, only three suitable gas tankers have been built for Arctic LNG 2, according to public information: the Alexey Kosygin, Pyotr Stolypin and Sergei Witte vessels.

Six more Arc7 tankers were due to be built by Hanwha Ocean, formerly Daewoo Shipbuilding & Marine Engineering, including three for Sovcomflot and three for Japan's Mitsui O.S.K. Lines.

However, the three tankers ordered by Sovcomflot were cancelled due to the sanctions against Russia, Hanwha said last year in regulatory filings.