Saudi Arabia is celebrating a remarkable achievement in workforce participation, leading the G20 countries in growth rates for both male and female workers between 2016 and 2021

This surge is largely attributed to the Kingdom’s dynamic labor market, led by economic expansion and forward-thinking initiatives under Saudi Vision 2030. The Kingdom’s National Labor Observatory reported a 1.7 percent growth rate for male workers, outpacing countries like Australia, which saw a 1.5 percent increase. More impressively, the female workforce grew by 5.5 percent, significantly higher than Australia’s 2.1 percent. This achievement reflects Saudi Arabia’s commitment to creating opportunities for women and enhancing their role in the economy.

The youthful population in Saudi have played a massive role in this progress

Economic growth and a youthful population have played a crucial role in this progress. Initiatives aimed at boosting female participation, such as improved access to education and employment opportunities, have been pivotal. These efforts align with the broader goals of Vision 2030, focusing on talent attraction, retention, and the productive involvement of women in the workforce. Moreover, Saudi Arabia recorded the highest increase in labor participation rates among G20 countries, with a 6.2 percent rise. This is a significant milestone, particularly compared to Japan’s smaller increase of 2.2 percent.

The positive results are nearing the Vision 2030 goal of 7 percent unemployment!

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The Kingdom’s labor market reforms and economic strategies have yielded positive results, leading to a significant drop in the unemployment rate from 12.3 percent in 2016 to 7.7 percent in 2023. This is nearing the Vision 2030 goal of 7 percent, showcasing the effectiveness of these reforms. Saudi Arabia also boasts a high male labor force participation rate, second only to Indonesia, with 70 percent of men over 25 actively engaged in the workforce. These statistics highlight the success of Saudi policies in fostering a more inclusive and thriving labor market!