Saudi trading
A Saudi employee at work inside the traders room at a bank in Riyadh. Image Credit: AFP file

Dubai: Saudi Arabia’s National Labour Observatory (NLO) has reported that the second quarter of 2023 marked a milestone with the highest participation of Saudi citizens in the labour market.

During this period, the number of Saudi citizens employed in the private sector establishments surged to 2.2 million employees, reflecting a remarkable growth of approximately 210,000 employees in comparison to the same quarter in 2022.

This notable increase equates to an average quarterly rise of around 42,000 employees up to the second quarter of 2023.

The significant expansion in the number of Saudi citizens engaged in the private sector workforce can be attributed to the robust economic growth rates witnessed in the Saudi economy.

These growth rates have not only contributed to the enlargement of the overall labour market but have also reinforced the demand for labor, thus enhancing productivity levels across various sectors.

The National Labour Observatory also released a Saudisation report for the second quarter of 2023, providing an in-depth analysis, including sectoral and regional breakdowns, as well as a comparison with previous quarters and the same period in 2022. The report also delves into the net growth of job opportunities for Saudi citizens.

According to the report, the number of male employees in the private sector reached an impressive 1.3 million, while approximately 900,000 female citizens were employed, resulting in a total Saudisation rate of 22.3 per cent.

Regional Saudisation rates varied, with the Eastern Province taking the lead at 27 per cent, followed by Mecca at 24 per cent, and the Riyadh and Medina at 21 per cent, all during the second quarter of 2023.

The information and communications sector stood out with the highest participation rate for male citizens at an impressive 60 per cent, showcasing the sector’s appeal as a desirable career choice. Meanwhile, the education sector boasted the highest participation rate for female citizens at 53 per cent, indicating a growing trend of women entering this field.