Saudi Arabia — Women participation in the workforce is growing quickly
by @Doron Peskin, Ofer SHOSHAN, May 30th, 2021
Last Sunday, the Saudi Ministry of Human Resources and Social Development launched a new program to localize “suitable and attractive” jobs for men and women in order to increase their participation in the labor market. The ministry statement said the plan would contribute to the creation of more than 340,000 jobs by 2024.
This is not the first time Saudi Arabia has launched such a program designed to increase local employment. The first version of the plan was launched in 2011, to encourage the localization of jobs and set a minimum wage for Saudis in the private sector. At the time, the minimum wage was set at 3,000 rials ($ 800) but has since been raised and currently stands at 4,000 rials ($ 1,066).
According to the General Statistics Authority, the unemployment rate among Saudis fell in the fourth quarter of 2020 to 12.6%, compared with 14.9% in the third quarter. The total number of employed persons in the Saudi market reached 13.319 million, of which 10.07 million were foreigners (75%) and 3.25 million Saudis (24%).
The government push to higher employment rates among Saudi citizens in general and women in particular is key to building the future economy in Saudi Arabia. In just 2 years the rate of participation of women in the workforce increased from 20% to over 33%.
These initiatives are part of the Vision 2030 program of the Crown Prince Mohammed Bin Salman.
#Saudi Arabia, #Vision2030
