- | 12:00 pm
Saudi Arabia makes significant progress in WEF skilled employees index
Last December, the ministry signed 25 agreements and training partnerships to boost localization and training programs.
Saudi Arabia has been strengthening its labor market for the last few years. The number of Saudi nationals working in the private sector increased from 1.7 million in 2019 to over 2.3 million in 2024, and the unemployment rate dropped to 7.6% during Q1 2024.
The Saudi Press Agency reported that the country has risen to fourth place in the World Economic Forum’s rankings for finding skilled employees and climbed seven spots to reach 14th in the work arrangements index since 2021.
The Ministry of Human Resources and Social Development has been working to modernize the traditional labor market through new employment methods, including flexible work, freelance opportunities, and telework programs.Â
The ministry also launched a Skill Verification Program in collaboration with the Ministry of Foreign Affairs, which involves 128 countries verifying the qualifications and skills of expat employees.
Last December, the ministry signed 25 agreements and training partnerships to boost localization and training programs.
The ministry also launched the National Training Campaign, the Waad initiative. This campaign aims to provide 1.16 million training opportunities by the end 2025.Â
At the same time, the Skills Accelerator Program initiative targets 162,000 private sector employees to develop high-level skills and enhance productivity.
Now accepting applications for Fast Company Middle East’s Most Innovative Companies. Click here to apply.