400,000 men and women entered the labor market within one year in 2021, a record number reached for the first time in Saudi Arabia, Minister of Human Resources and Social Development (MHRSD) Eng. Ahmad Sulaiman Al-Rajhi announced.
Eng. Al-Rajhi confirmed during the Future of Real Estate Forum in Riyadh that the graduates of previous years have been absorbed into the labor market with the number of men and women who entered the labor market for the first time is more than those who graduated from educational institutions during the same year 2021.
This large number of people entering the labor market has been achieved with the support of the private sector, which has provided those jobs for men and women, Eng. Al-Rajhi said.
The MHRSD during 2021 issued 32 localization decisions in several qualitative fields, including pharmacy, dentistry, accounting, law, and marketing, the minister clarified while pointing out that the private sector was able to employ 400,000 people, which was double its goal of the 32 localization decisions that was to create 200,000 jobs.
Eng. Al-Rajhi said that the private sector’s performance of achieving a number greater than its goal confirms that the existing partnership with the sector is real. He indicated that during 2022, the MHRSD would issue 30 new localization decisions.
The jobs in the real estate sector are characterized by having a good work environment in addition to a good income, Eng. Al-Rajhi noted, adding, the sector is also a contributor to the movement of many other activities and sectors such as building materials trade, supply chains, and the contracting sector.
Six activities were issued last July for localization in the real estate sector, in addition to the launch of financing 40% of men and women salaries for a period of two years with a maximum of SR2,000 through the Human Resources Development Fund (HADAF).
"Job creation has become a reality, and we have now reached an unprecedented number of Saudis being employed in the private sector," Eng. Al-Rajhi said.
He mentioned that the number of citizens working in the private sector has so far reached 1.95 million of men and women, which is a historical number that confirms that the Kingdom has cadres who desire to work. He said, "We can bet on them."
Eng. Al-Rajhi confirmed that the landmark has been achieved with support through sectorial strategies, in addition to the Kingdom's vision programs, Public Investment Fund projects, and large housing projects, as well as partnership with the private sector.