https://arab.news/rxy7v
- Kingdom advanced seven spots to 14th in the work arrangements index since 2021
- Women representation in senior and middle management positions increased to 43.8%
RIYADH: Saudi Arabia has now risen to fourth place in the World Economic Forum’s rankings for finding skilled employees, climbing three positions and demonstrating significant global progress, the Saudi Press Agency reported.
According to WEF reports, the Kingdom has also advanced seven spots to 14th in the work arrangements index since 2021, highlighting substantial improvements in skilled labor availability and equal pay, the report said.
The Ministry of Human Resources and Social Development has been instrumental in elevating the Kingdom’s global standing by modernizing the traditional labor market through new employment patterns such as flexible work, freelance opportunities, and telework programs, thus creating more job prospects for Saudis.
Among the ministry’s initiatives is the Skill Verification Program, launched in collaboration with the Ministry of Foreign Affairs. This program spans 128 countries to verify the qualifications and skills of expatriate workers, according to SPA.
In the Global Gender Gap Report, Saudi Arabia has moved up two positions in the equal pay for equal work ranking since 2023, now holding 13th place globally in 2024. The share of women in the labor market has grown to 34.1 percent in the first quarter of 2024, with the economic participation rate for Saudi females over 15 reaching 35.8 percent during the same period.
Efforts to enhance women’s empowerment in the workforce have led to increased representation of women in senior and middle management positions, now at 43.8 percent. The ministry aims to further boost women’s participation by 40 percent in the near future.
In December 2023, the MHRSD signed 25 agreements and training partnerships to enhance its localization and training programs. These agreements were finalized at the first annual Global Labor Market Conference, organized by the ministry in collaboration with the UN International Labor Organization and the World Bank. This initiative is a key part of the Kingdom’s strategy to build capacity and empower human capital in alignment with Saudi Vision 2030.
The ministry has also launched the National Training Campaign, known as the Waad initiative, which aims to provide 1.16 million training opportunities by the end of 2025. This initiative is part of a broader strategy to support and train national talent in partnership with the private sector. Key targets include training 12 percent of Saudis annually, establishing 12 sectoral councils for skills in collaboration with the private sector, and developing national professional standards for over 300 professions.
Another initiative, the Skills Accelerator Program, targets 162,000 private sector employees to develop high-level skills and enhance productivity.
These efforts have strengthened the Kingdom’s global position and demonstrated its influence in the labor market. Notably, the number of Saudi nationals working in the private sector has increased from 1.7 million in 2019 to over 2.3 million in 2024. Additionally, the unemployment rate has dropped to 7.6 percent in the first quarter of 2024.