Saudi youth employed by private sector amount to 2.2 mln: HRSD Minister

Ahmad Al Rajhi, Saudi Minister of Human Resources and Social Development

Saudi Arabia has 2.2 million young people employed by the private sector, said Ahmad Al Rajhi, Saudi Minister of Human Resources and Social Development (HRSD).  

The private sector and businessmen responded to the Saudization initiatives that were launched by the ministry, Al Rajhi added during his speech at the Riyadh Economic Forum's 10th edition. 

Saudi Arabia’s unemployment rate reached 5.5%, with the rate among Saudis hitting a 20-year record level of 9.7%. 

The ministry will continue to work on reaching its target unemployment rate of 7% by 2030, said the minister. He added that 32 Saudization decisions were issued for skilled professions, including dentists, pharmacists, engineers and accountants, targeting a nil jobless rate among them. 

Al Rajhi indicated that 12 more decisions will be mandated this year, with a compliance rate of 98% in the private sector, in addition to a wage protection rate of 80%. 

As for new work patterns, he explained that there are 1.8 million freelance work licenses registered in the Kingdom, highlighting that such a figure was unexpected.

Full-time candidates for the new labor patterns reached nearly 200,000 young people, he confirmed.