Saudi Gazette report

RIYADH — The Ministry of Human Resources and Social Development noted that the wages of Saudis working in the private sector increased by 45 percent during the year 2024. Efforts to empower women had a significant impact on enhancing their economic participation, as their participation rate in the labor market increased to 35.8 percent, exceeding the targets of Vision 2030, and the percentage of women in middle and senior management positions increased to 43 percent.

The ministry described this as a step that reflects the improvement of living standards, which embodies a growing appreciation for national competencies and the ministry's efforts to achieve a balance between improving the work environment and raising productivity.

The ministry scored a set of qualitative achievements during 2024, which contributed to consolidating the Kingdom's position in regional and international development leadership, and achieving the goals of the Kingdom's Vision 2030 before their specified dates.

There has been an increase in the number of Saudis working in the private sector reaching 2.4 million male and female employees. This include 361,000 Saudis entering the labor market for the first time. The private sector contributed 50.5 percent to the employment of citizens.

Saudi Arabia recorded a historic decline in the labor market with a total unemployment rate of 3.3 percent, ranking fifth among the G20 countries, while the unemployment rate among Saudis fell to 7.1 percent, a level achieved six years before the target under Vision 2030.

In terms of social responsibility, the ministry has made global progress with the Kingdom ranking 16th in the Social Responsibility Index according to the IMD World Competitiveness Yearbook, with companies contributing 4.15 percent to social spending, and the private sector contributing more than SR4 billion through the National Social Responsibility Platform.

In the context of raising the readiness of national cadres, the national training campaign Waad provided 1.3 million training opportunities, while the unified national employment platform Jadarat provided more than 210,000 job vacancies, with an average of 700 new vacancies per day.

In terms of digital transformation during 2024, the ministry witnessed remarkable progress, as beneficiary visits to branches decreased by 74 percent, with an increase in automated digital services to 1,000 services, representing 80 percent of the total services provided.