Saudization rate in the private sector accelerates

The financial and insurance activities sector recorded the highest localization rate at 83.1 percent. (Shutterstock)

• It means that the overall proportion of Saudis being hired rose to 22.75 percent compared to 20.37 in the previous quarter

RIYADH: New Saudi employees entering the workplace in the private sector reached 121,000 in the first quarter of 2021, according to a report issued by Human Resources Development Fund.
It means that the overall proportion of Saudis being hired rose to 22.75 percent compared to 20.37 in the previous quarter.
The financial and insurance activities sector recorded the highest localization rate at 83.1 percent. Saudis working in the construction, wholesale and retail trade, and auto repair reached 42.42 percent.
Gulf economies are ramping up efforts to hire more of their citizens as part of a broader shift towards economic diversification and with a pressing need to find work for a new generation of job seekers.
The average wage of Saudis in the private sector reached SR5,957 ($1,588) by the end of the first quarter of this year. It amounted to SR6,767 for Saudi men and SR4,591 for Saudi women.
The number of Saudi subscribers to social insurance increased by 5.45 percent in the first quarter of this year compared to the previous quarter.
Non-Saudi subscribers to social insurance fell by 0.4 percent.
Private sector establishments in the Kingdom increased by 2.9 percent in the first quarter of 2021, quarter-on-quarter, reaching 184,648 establishments.