Jordan's sectors add 184,926 jobs in 2024 — JEF
The paper tracks net job creation, a key tool for measuring the economy's capability to absorb new entrants to the labour market and mitigate worsening unemployment rates, the Jordan News Agency, Petra, reported.
The paper noted that results of the 2024 Job Creation Survey showed that 184,926 individuals aged 15 and above had assumed new jobs, while 89,584 others left the labour market during the same period.
The paper indicated that a total of 96,421 new job opportunities were created in the Kingdom's public and private sectors, equivalent to around 96.4 per cent of the annual target set within the Economic Modernisation Vision (EMV).
JEF said that this growth reflects the extent of efforts made to enhance labour market dynamism and "effective commitment" to the vision's path to generate "sustainable" jobs that contribute to reducing unemployment and improving living standards.
For beneficiaries, the paper noted that the new job opportunities were distributed at a rate of 69.3 per cent for males, equivalent to 66,804 jobs, and 30.7 per cent for females, equivalent to 29,617 jobs.
The paper also indicated that the largest proportion of job opportunities created in 2024 was in the private sector, amounting to 75.7 per cent, reflecting "success of economic policies and reforms in enhancing job opportunities, despite the surrounding geopolitical challenge."
The Kingdom's public sector accounted for only 23.6 per cent of these new jobs, indicating the private sector's "essential" role in achieving growth and employment goals within the vision.
According to the report, "a clear trend dominated to prioritise employment of Jordanian workers in the local market, with lower percentages allocated to foreign counterparts."
The paper said that the majority of new jobs targeted Jordanian nationals, representing 90 per cent of the total opportunities.
Non-Jordanian Arab nationalities accounted for 6.2 per cent of the overall jobs, while non-Arabs received 3.7 per cent of the total posts.
In terms of the distribution of new job opportunities by economic activity, the paper noted that Jordan's manufacturing, wholesale and retail trade sectors accounted for the largest share, with equal percentages of 15.4 per cent each.
Jordan's public administration and defence sectors accounted for 14.6 per cent, the education sector's share stood at 11.5 per cent and the health sector stood at 10.2 per cent, Petra noted.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Jordan Times
9 hours ago
- Jordan Times
Jordan's industrial exports rise 6.3% in first 5 months of 2025
AMMAN — Jordan's industrial exports rose by 6.3 per cent in the first five months of 2025, reaching JD3.3 billion, up from JD3.1 billion during the same period last year, the Jordan Chamber of Industry (JCI) said on Thursday. This performance confirms the sector's 'resilience and growing importance' as a key driver of national economic growth, with industrial exports now accounting for 92 per cent of the country's total national exports, the Jordan News Agency, Petra, reported. In its latest report, the JCI attributed the JD302 million increase to higher demand from key markets, particularly Saudi Arabia and Iraq, which together accounted for nearly half of the total export growth. Saudi Arabia topped the list of markets contributing to growth, with a JD91.6 million increase in imports from Jordan, followed by Syria (JD72.2 million), India (JD56 million), Iraq (JD54 million), the US (JD20.9 million) and China (JD15 million). Non-traditional markets also showed 'promising' gains, where exports to Ethiopia rose by JD48 million, followed by Djibouti (JD24.4 million) and Thailand (JD14.3 million). At the sectorial level, eight sub-industries recorded export increases, led by the food, leather, and textile sectors, which together contributed 40 per cent of overall growth. The food industry alone saw a JD62 million increase, driven by rising demand from the Arab Gulf countries, Iraq, and East Africa, particularly for vegetable oils and canned goods. The chemical industry posted a JD41 million gain, boosted by exports of fertilisers, intermediate chemicals, and cosmetics. Demand for phosphate- and potash-based products continues to grow both regionally and globally. Construction-related industries added JD33 million to export totals, as demand surged from reconstruction markets like Iraq and Libya, fuelling shipments of ceramics, paints, and insulation materials. Clothing exports led in value growth, adding JD46 million, followed by nitrogen-based fertilisers (JD32 million), cement (JD28.2 million), and soap and detergents (JD21 million). Exports of sugar, cocoa, and related products also added JD37.1 million, while electrical equipment grew by JD16.2 million. 'These figures reflect the growing diversity of Jordan's industrial production base and its deeper integration into global supply chains,' the JCI said in the report. Despite the overall positive trend, several export categories saw declines. Gold and jewellery exports dropped by JD57 million, while ready-made garments fell by JD56 million. Exports of inorganic chemicals decreased by JD13.3 million, miscellaneous chemicals by JD10.2 million, raw phosphate by JD10 million, meat and derivatives by JD7 million, and copper products by JD4 million. Some markets also recorded falling demand for Jordanian goods. Exports to Switzerland declined by JD33.6 million, Palestine by JD26.5 million, Australia by JD12.1 million, Indonesia by JD11.2 million, Brazil by JD11 million, and South Korea by JD7 million. The chamber highlighted the importance of continuing to diversify export destinations and product offerings to reduce exposure to global economic fluctuations. The JCI also called for improving Jordan's logistics infrastructure, especially in air and land freight, as well as enhancing product competitiveness through innovation and quality. The chamber urged the government to support emerging sectors such as technology and green industries, and to boost cooperation with diplomatic missions and trade attachés to ease market access.
Jordan Times
16 hours ago
- Jordan Times
Central Bank of Jordan maintains interest rates unchanged
AMMAN — The Open Market Operations Committee of the Central Bank of Jordan (CBJ) on Thursday decided to maintain interest rates on monetary policy instruments unchanged. The CBJ said in a statement that the decision was a result of the bank's commitment to closely monitor the national economy's developments, particularly monetary and banking indicators. It also said that the decision aligns with a comprehensive review of the international and regional economic dynamics. Citing the latest economic indicators, the bank said that Jordan's economy has shown notable resilience and flexibility in the face of persistent geopolitical tensions in the region, with the country's GDP growing by 2.7 per cent in the first quarter of 2025, marking an increase of 0.5 percentage points compared to the same period last year. The CBJ projects the economy will maintain this growth rate throughout the year, buoyed by strengthening domestic and external demand. Economic indicators confirm the strength of monetary stability in the Kingdom, the bank said, adding that its currency reserves surpassed $22 billion at the end of June, sufficient to cover 8.4 months of the country's imports of goods and services. Inflation has remained steady, averaging 2 per cent during the first half of the year, with full-year projections hovering around 2.2 per cent, CBJ said. 'This price stability supports consumer purchasing power and bolsters the competitiveness of the national economy.' The CBJ said that the banking sector continues to post strong figures. Customer deposits at local banks rose by 7.1 per cent year-on-year, reaching JD48.2 billion by the end of June. Credit facilities extended by banks grew by 3.9 per cent to JD35.5 billion over the same period. Financial soundness indicators reflect a robust banking system, with the capital adequacy ratio standing at 18.0 per cent, 'among the highest in the region,' the bank said, adding that the legal liquidity ratio reached 144.7 per cent, well above the CBJ's required minimum of 100 per cent. The CBJ said that the external sector also reported positive performance, with tourism revenues increasing by 11.9 per cent in the first half of the year to reach $3.7 billion compared to the same period in 2024. Total exports saw a significant rise of 8.6 per cent during the first five months of 2025, totalling $5.6 billion, the CBJ said.
Ammon
16 hours ago
- Ammon
Reframing economic reform: A Central Bank perspective on Jordan's transformation
Raad Mahmoud Al-Tal In a rapidly evolving global economic landscape, the recent remarks by the Governor of the Central Bank of Jordan, Adel Sharkas, offer a clear signal that Jordan has embarked on a fundamentally new path of economic reform. The country has shifted away from reactive, short-term policy adjustments toward a proactive and strategic reform agenda, guided by the Economic Modernisation Vision. This transition has not only redefined national economic objectives but has also introduced a new set of tools and implementation mechanisms. This transformation can be understood through three interrelated pillars. First, Jordan has adopted a forward-looking approach that prioritises economic resilience in the face of external shocks. Second, macroeconomic stability has been reestablished as the cornerstone of long-term, sustainable growth. Third, the coordination between fiscal and monetary policy has evolved into a coherent, integrated framework designed to support reform over the medium and long term. Jordan's recent growth performance, averaging 2.9 per cent during 2021–2024, is not simply a rebound, it signals a structural shift. The growth trajectory has become broader-based and more externally driven, with investment contributing around 40 per cent and the external sector 38 per cent to overall growth during this period. This indicates that the economy is gradually becoming less reliant on domestic consumption and public expenditure and more rooted in productive, scalable sectors. This shift reflects the cumulative impact of structural reforms that have enhanced productivity and invested in human capital—key components of what economists refer to as potential output. In effect, Jordan is building the capacity to sustain growth without triggering inflationary pressures. On the external front, the economy has shown notable resilience. Non-traditional exports have increased their share of GDP from 16.2 per cent in 2016 to 20.9 per cent in 2024. The energy bill has been significantly reduced—now at 7 per cent of GDP—due to long-term gas agreements and a diversified energy mix. Additionally, workers' remittances, a vital source of foreign exchange, have remained strong, totaling $3.6 billion in 2024. Monetary policy has played a crucial role in this stabilization. Inflation has been contained at approximately 2 per cent in the first half of 2025, despite global price pressures. Foreign currency reserves, now exceeding $22 billion, provide more than eight months of import coverage. The decline in dollarization to 18.1 per cent further underscores growing confidence in the Jordanian dinar. The banking sector, too, has emerged as a pillar of stability and growth. Bank deposits have reached 47.7 billion dinars, while credit facilities have expanded by over 7 billion dinars since 2020. Jordan has also made significant strides in digital financial services, with digital payment volumes now equivalent to 146 per cent of GDP a reflection of improved access, efficiency, and innovation in the financial ecosystem. Importantly, the Central Bank of Jordan is no longer functioning solely as a regulator, it has become a strategic partner in the country's reform agenda. Its leadership in promoting financial inclusion, digital transformation, and monetary stability reflects a proactive institutional role aligned with national development priorities. Governor Sharkas's address is not just a summary of economic metrics; it is a clear statement that Jordan is gradually breaking free from its historic vulnerabilities. The country is laying the groundwork for a more resilient, self-sustaining economic model capable of withstanding future uncertainties. However, the road ahead is not without challenges. Sustaining this progress requires institutional continuity, deeper public-private collaboration, and a cultural shift toward long-term economic thinking. Ultimately, it is not just reform policies, but a broader economic mindset that will define Jordan's ability to navigate the next decade.
