2024 sees foray of 364,000 citizens into labor market: HRSD Minister

Ahmad AlRajhi, Minister of Human Resources and Social Development

Minister of Human Resources and Social Development (HRSD) Ahmad Al-Rajhi said 364,000 citizens entered the Saudi labor market for the first time in 2024.

In a panel discussion at the 2024 Global Health Exhibition, he pointed out that 550,000 Saudi workers joined the local private sector over the past four years.

Al-Rajhi noted that the overall unemployment rate in the Kingdom reached 3%, with the rate among Saudis down to 7%.

As many as 50 qualitative localization decisions were implemented over the past four years in coordination with various government agencies, including health, industry, accounting, and more, he further stated.

Al-Rajhi explained that qualitative localization differs from quantitative localization as it focuses on specialized fields such as accounting, pharmacy, and dentistry.

He highlighted the widening foothold of Saudis in the healthcare sector, adding that young national talents have demonstrated high competencies in both the private and public sectors, being heavily hailed by investors.

He pointed to the unprecedented activity in the local healthcare sector, particularly given investments from Saudi investors and foreign partnerships.