Saudi Arabia has secured the top position in employment growth and labor market growth indices, surpassing 66 other countries, according to the Global Competitiveness Yearbook 2024.

The kingdom’s labor market continues to perform well, building on its previous success as the G20 leader in labor force participation from 2016 to 2021. The Saudi National Labor Observatory unveiled these latest accolades on Thursday.

The Saudi government has embarked on a series of labor market reforms to sustain this momentum, aligning with national strategies and international commitments. The recent Cabinet approval to amend the Saudi Labor Law is a prime example of these efforts, reflecting the kingdom’s commitment to enhancing job opportunities, worker rights, and overall market efficiency.

The Global Competitiveness Yearbook 2024 ranked Saudi Arabia among the top five for labor market effectiveness legislation, skilled foreign labor, overall labor market performance, and working hours. The kingdom secured the tenth spot in team member training.

This upward trajectory is reflected in Saudi Arabia’s improving overall rankings in the yearbook, rising from 24th in 2022 to 17th in 2023 and 16th in 2024. The latest labor law amendments, approved last week, aim to enhance job security, protect worker rights, and promote human capital development.

The recent labor reforms, shaped by input from over 1,300 participants, aim to enhance market efficiency, address the needs of both employers and workers and empower Saudi talent to drive the nation’s economic growth.

Simultaneously, the private sector is experiencing a significant increase in Saudi employment. Over 34,600 Saudi citizens joined the sector in the last month alone—more than double the number from June. The total workforce in Saudi Arabia now stands at 11.473 million, including over 2.342 million Saudi nationals.

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