02/04/2023
Al-Ruzaiza: The continuous decline in unemployment rates confirms the solidity of the national economy and the success of the government plans
The Chairman of the Asharqia Chamber, Badr bin Suleiman Al-Ruzaiza, praised the government's efforts in the continuous decline in unemployment rates, which the country has witnessed since the end of the pandemic until now, and that it reached a record high in the fourth quarter of 2022 AD, and said: This continuous decline in unemployment rates between males and females in the Kingdom, despite the slowdown in the growth of the global economy and the repercussions of international conditions such as high inflation and fluctuations in global markets, and the major economic challenges facing various countries of the world, confirm the solidity of the national economy and the success of government plans in generating jobs and revitalizing the business movement in general, and this decline is expected to continue during this year, due to the launch of many projects and investment expansion in various sectors.
And the General Authority for Statistics revealed, in its publication on the labor market for the fourth quarter of last year, that the unemployment rate for the total population in the Kingdom decreased to 8.0% for the fourth quarter of 2022 AD, compared to 9.9% in the third quarter of 2022 AD, driven by government activities and the role of the private sector. In generating jobs, whose compliance with government Emiratization decisions exceeds 95%.
Al-Ruzaiza attributed the achievement of a higher continuation of the rates of participation of the national labor force in the labor market, to those integrated policies that came within the framework of the Kingdom’s Vision 2030 AD and made it one of its most important priorities to work to achieve the goals of creating job opportunities for the national labor force and included a large and expanding package of programs and initiatives considered under the umbrella. The national strategy for the labor market, as well as the reforms and measures taken by the state, were reflected in the smoothness of the local economy and its ability to deal with various events and repercussions, as well as the opening of space for new and qualitative sectors within the policy of economic diversification, pointing out that the Saudi labor market is witnessing a tangible rise about its attractiveness and ability. On the absorption of the national labor force, pointing out that the Kingdom had risen to 13th place in the labor market efficiency index, according to the Global Competitiveness Report.
