RIYADH: Saudi Arabia's private sector employment reached 11.47 million at the end of July, up 0.5 percent from June, according to a new report.
Figures from the National Labor Observatory show that the total number of citizens employed in the Saudi private sector is 2.34 million, representing a monthly increase of 1,206 workers.
Of the nationals employed in this sector, 1.38 million are men and 956,639 are women.
The increase in the number of citizens of the Kingdom employed in private companies is an indication of the effectiveness of government policies to promote local employment and reduce unemployment.
The increase is in line with Saudi Vision 2030's goal of increasing the private sector's contribution to the Kingdom's gross domestic product by creating new investment opportunities, promoting innovation and competition, and removing obstacles to growth.
This is also in line with the vision, which aims to attract and retain top talent, including Saudis and expatriates, and to invest in the productive skills of women to enhance their role in the Saudi economy and society. As part of recent changes to the Saudization policy, the Kingdom is seeking to increase the share of women in the workforce to 30 percent.
The NLO data also showed that the total number of residents employed in the private sector exceeded 9.13 million in July, including over 8.74 million male workers and only 383,499 female workers.
Earlier this week, NLO announced that Saudi Arabia recorded the highest growth rates in labor force participation among men and women among all G20 countries between 2016 and 2021.
This growth was attributed to the country's dynamic labor market, driven by economic growth, a young population and initiatives to increase female labor force participation.
Saudi Arabia's efforts at economic diversification have transformed the kingdom into a hub for employment opportunities, driven by bold gigaprojects like NEOM that are attracting new talent to the construction industry.
NLO is a government organization tasked with monitoring and analyzing the trends and dynamics of the country's labor market. It serves as an important resource for policymakers, researchers, and stakeholders interested in and seeking to address issues related to employment, workforce development, and labor market regulation.
