Significant Growth in Saudi Private Sector Wages
Wage Increase Overview
The Ministry of Human Resources and Social Development announced a 45% increase in wages for Saudis working in the private sector in 2024. This increase reflects improved living standards and growing recognition of national competencies.
Women Empowerment and Vision 2030 Milestones
Increased Participation in the Workforce
Women’s economic participation in the labor market reached 35.8%, exceeding Vision 2030 targets. Additionally, 43% of middle and senior management positions are now held by women.
Exceeding Vision 2030 Targets
The ministry’s efforts have accelerated progress towards Vision 2030 goals, achieving milestones ahead of schedule.
Achievements in Employment and Unemployment Reduction
Employment Growth in the Private Sector
The number of Saudis employed in the private sector reached 2.4 million, including 361,000 first-time entrants to the labor market. The private sector contributed 50.5% to citizen employment.
Record Unemployment Rates
Saudi Arabia’s unemployment rate dropped to a historic 3.3%, ranking fifth among G20 countries. Among Saudis, unemployment decreased to 7.1%, achieving this target six years ahead of schedule.
Social Responsibility and Corporate Contributions
National and Global Achievements
The Kingdom ranked 16th in the Social Responsibility Index by the IMD World Competitiveness Yearbook. Private sector contributions to social spending exceeded SR4 billion through the National Social Responsibility Platform.
Training and Employment Initiatives
Waad National Training Campaign
Waad provided 1.3 million training opportunities, preparing national cadres for the labor market.
Unified Employment Platform Jadarat
Jadarat offered over 210,000 job vacancies in 2024, averaging 700 new vacancies daily.
Digital Transformation in the Ministry
Enhanced Digital Services
The ministry made significant strides in digital transformation, reducing branch visits by 74% and automating 1,000 services, covering 80% of its offerings.
