Female Participation in Saudi Workforce Rises to 36%

Women’s participation in the Saudi workforce increased after overcoming difficulties of commuting to the workplace. (Photo: Reuters)
Women’s participation in the Saudi workforce increased after overcoming difficulties of commuting to the workplace. (Photo: Reuters)
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Female Participation in Saudi Workforce Rises to 36%

Women’s participation in the Saudi workforce increased after overcoming difficulties of commuting to the workplace. (Photo: Reuters)
Women’s participation in the Saudi workforce increased after overcoming difficulties of commuting to the workplace. (Photo: Reuters)

A recent study has revealed an increase in women’s participation in the workforce by 36 percent over the past year.

The study sought to measure the impact of the Female Transportation Program (Wusool), which was launched in 2017 by the Saudi Fund for Human Resources Development (Hadaf) and Uber Company, to empower women in the private sector, increase the percentage of their participation in the labor market and enhance their job stability.

The results of study, which were revealed on Wednesday, proved the success of the program in empowering Saudi working women in the private sector over the past four years, after successfully overcoming challenges and difficulties of commuting to and from workplaces, by providing transportation trips at reasonable prices through the Uber platform and other participating transportation companies.

Wusool is one of Uber’s largest government partnerships in the world. According to the study, the program has contributed to an increase in the percentage of women’s participation in the workforce in Saudi Arabia between 2018 and 2021, from 22 to 36 percent.

The study, which was prepared by Roland Berger Global Consulting, showed that 80 percent of women, who previously relied on public transportation, admitted that the program enabled them to find more and better job opportunities.

Moreover, 21 percent of the female respondents said that the program contributed to enhancing their sense of job security, while 49 percent of the participants considered that the main benefit of Wusool was to help them save money and secure financial independence.

The study pointed out that the number of women who benefited from the program increased from 300 to about 13,000 in the first year of its launch and operation, while by late 2021, more than 120,000 women had used the program to make more than 20 million trips to and from the workplace, mostly via the Uber application.

Mohammad Qazzaz, General Manager of Uber in Saudi Arabia, said that the impact of the program was tangible, noting that it has exceeded the desired goals in increasing women’s participation in the workforce.

“We are proud that the Uber platform played a major role in achieving this... We are launching a number of initiatives aimed at increasing economic opportunities for women,” he stated.

For his part, Turki Al-Jawini, Director General of the Human Resources Development Fund, said that the program succeeded in finding solutions to the issue of mobility, which is a major challenge for employment continuity.

The various initiatives of the Human Resources Development Fund have helped boost the percentage of women’s participation in economic development to more than 30%, he underlined.



Gold Retreats as Dollar Firms; Fed Decision Looms

FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo
FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo
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Gold Retreats as Dollar Firms; Fed Decision Looms

FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo
FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo

Gold prices dipped on Monday, pressured by a firmer US dollar, while investors focused on the Federal Reserve's first meeting of 2025 for more guidance on the interest rate path.

Spot gold dropped 0.7% to $2,751.71 per ounce by 0748 GMT, after trading just below record-high levels on Friday. US gold futures fell 0.8% to $2,756.30.

The dollar gained 0.2%, making gold expensive for other currency holders, Reuters said.

"The US dollar could be the main culprit for gold's weakness... However, the current movement suggests that the downside for the yellow metal is still limited, potentially aided by safe-haven flows," IG market strategist Yeap Jun Rong said.

The US and Colombia pulled back from the brink of a trade war after the White House said the South American nation had agreed to accept military aircraft carrying deported migrants.

Gold is considered a hedge against geopolitical turmoil and inflation. It also tends to thrive in a low interest rate environment as it yields no interest.

Fed policymakers are largely expected to keep rates steady at the end of their Jan. 28-29 meeting, marking the first pause in the rate-cutting cycle that began in September.

"Market focus will likely be on how the Fed reacts to comments from President Trump, who has called for continued interest rate cuts," Reliance Securities' senior analyst Jigar Trivedi said.

Data since the Fed's December meeting has kept intact the core view among Fed officials that inflation will continue to move steadily, if slowly, towards 2%, with a low unemployment rate and continued hiring and economic growth.

COMEX gold speculators raised net long position by 21,864 contracts to 234,358 in the week to Jan. 21, data showed on Friday.

Spot silver dropped 1.3% to $30.20 per ounce, palladium dipped 1.8% to $969.83 and platinum fell 0.9% to $940.40.