Saudi Arabia: Unemployment rate to go down to less than 7% by 2030
Dubai: The Saudi Minister of Human Resources and Social Development, Ahmed Al Rajhi, said that the kingdom is proceeding with efforts to reduce the unemployment rate to less than 7 per cent by 2030.
In an interview with Al Ekhbariya TV channel, Al Rajhi said that the ministry’s agreements with partner entities and supervisory ministries have created 420,000 job opportunities for Saudi men and women.
The initiative of improving the contractual relationship launched recently by the ministry boosts the competitiveness of the Saudi workers to be equal to that of expats, the minister said, adding, that the move will offer more jobs for nationals.
Al Rajhi indicated that the kingdom is among the G20 countries least-affected by COVID-19, noting that 15 initiatives were launched to sustain jobs during the pandemic period.
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The labour market strategy, which has been recently adopted, includes 11 reforms and 25 initiatives, to restructure the labor market and create more job opportunities for citizens.