Saudi Arabia ranks first among G20 countries in labour force growth rate

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Saudi Arabia
  • Date: 23-Nov-2022
  • Source: Gulf Insider
  • Sector:Economy
  • Country:Saudi Arabia
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Saudi Arabia ranks first among G20 countries in labour force growth rate

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As Saudi Arabia is undertaking massive economic diversification, the Kingdom has ranked first in the labour force growth rate among the Group of 20 countries during the period 2012 – 2021, according to a recent report launched by the National Labor Observatory.

This comes as Saudi Arabia has shown positive signs in the main labour indicators, which are based on global benchmarks issued by the International Labor Organization, as the Kingdom is steadily progressing in its efforts to create more jobs in line with Vision 2030.

The labour indicators include the annual labour force growth, labour force participation rate, employment, and unemployment rates, in addition to the rate of those outside the scope of education, work, and training.

The NLO and the Saudi Labor Market Indices were launched in 2019 with the objective of further boosting Saudization and regulating the labour market. The NLO provides a set of services and products specialized in the labour market, based on comprehensive and accurate data that enables anticipating the future of the labour market, evaluating policies and programs and measuring their impact.

According to Saudi Arabia’s Central Department of Statistics and Information, the unemployment rate in the Kingdom decreased to 5.80 percent in the second quarter of

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