HRSD implemented 80% of Labor Market Strategy: Minister
Minister of Human Resources and Social Development (HRSD) Ahmad AlRajhi said that the ministry launched many initiatives to support the labor market, including the Labor Market Strategy, which was launched in 2020, 80% of which was implemented so far.
In a statement on the sidelines of the Global Labor Market Conference (GLMC), AlRajhi said that the number of Saudis working in the private sector increased from 1.7 million to 2.4 million within four years, while the women's participation increased from 20% before launching Saudi Vision 2030 to 36%, exceeding the specified target for 2030.
During the GLMC, the minister announced the launch of two main initiatives, including the International Labor Market Academy in partnership with the World Bank with the aim of training policymakers to develop appropriate strategies for the labor market, where 50 policy makers will be trained this year, 200 in the next year, and 300 in 2027.
The initiatives include the future work report, as a strategic report that provides data and analyzes to support decision makers in addressing the challenges of the labor market, he added.
The GLMC is witnessing today a qualitative leap in participation, as the number of participants reached 5,000 from 100 countries, compared to 2,000 participants from 70 countries in the previous version, which reflects the growing global interest in the challenges of the labor market, AlRajhi further indicated.
Moreover, he noted that the ministerial round table meeting focused on employing youth and reducing unemployment rate, as well as highlighting three main axes of the conference this year, including the skills gap and the requirements of the labor market, the population change and its impact on the labor market, and the green economy and the unemployment rate among youth.
This conference is not just an annual event, but a pivotal platform that contributes to the development of strategic solutions for the global labor market, and we look forward to continuing this momentum, the minister concluded.
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