RIYADH: The number of Saudis with more than 20 years’ experience in the private sector is now beyond 123,000, according to a first-of-its-kind report.
The National Labor Observatory claims this figure indicates an improvement in the overall survival and sustainability of such jobs in the Kingdom.
The report also highlighted that this rise is mainly attributed to efforts exerted by the sector such as financial incentives and rewards.
In addition to this, private firms also offer continuous training and development, driven by government support, retention, and nationalization programs.
According to the report, the number of citizens continuing to work in the sector across categories for a period between 15 and 20 years reached 164,000.
Similarly, over 380,000 citizens have been working in the sector between 10 to 15 years, more than 714,000 between five and 10 years, and over 377,000 between three and five years.
As for those that have been employed between one and three years, the figure stood at more than 611,000 citizens.
Over 134,000 employees were recorded to have been working in the private sector for less than a year.
Earlier this month, the NLO revealed that the total number of employees in the Kingdom’s private sector reached 10.7 million workers in October — with 2.3 million of them being Saudi.
In October alone, the net growth in jobs for the Kingdom’s nationals was 17,830, indicating a steady increase in employment within the private sector.
This data represents a positive trend in the employment sector as the private sector continues to expand its workforce, creating opportunities for Saudi citizens.
Moreover, in 2021, a study revealed that the Saudi private sector is hiring women at twice the rate of the public sector.
Between the beginning of 2019 and the end of 2020, Saudi women in the labor market grew by 64 percent, as the Kingdom underwent several social reforms, particularly for its female population, the study disclosed at the time.
The study, commissioned by US think tank Brookings Institute, showed the surge was “genuine, private-sector-led,” as female employment in these sectors rose by about 10 percent, twice as quickly as in the public sector, where it grew 5 percent.
