Saudi Minister of Human Resources and Social Development, Engineer Ahmed bin Suleiman Al-Rajhi, announced a decline in the unemployment rate to 7.6%. He also highlighted that 2.3 million young Saudis now work in the private sector, calling these figures historic.
In June, the Saudi General Authority for Statistics (GATSAT) reported that the unemployment rate for Saudis fell to 7.6% in the first quarter of 2024. This is a decrease from 7.8% in the fourth quarter of 2023.
GATSAT also revealed that the overall unemployment rate, which includes both Saudis and non-Saudis, was 3.5% in Q1 2024. This represents a slight increase from 3.4% in Q4 2023.
Significant Investments in Employment Support
During the launch of the unified national employment platform, Al-Rajhi noted that the Human Resources Development Fund (HRDF) spent 3.7 billion riyals on employment support, training, and development programs in the first half of 2024. Over 100,000 establishments benefited from this initiative, leading to the employment of more than 153,000 Saudi young people in private sector businesses.
Launch of New Employment Platform
On Sunday, Minister Al-Rajhi inaugurated the unified national employment platform, “Jadarat,” under the slogan “Ambition and Empowerment.” This initiative follows a Cabinet decision to create a unified national employment platform managed by HRDF.
Cabinet Approval and Platform Objectives
In February 2021, the Cabinet approved the creation of the unified national employment platform. The Minister explained that the platform aims to consolidate employment efforts and job seeker data across both public and private sectors. It also seeks to improve data quality and reliability, streamline application processes, and make job opportunities more accessible.
The new platform plays a key role in delivering employment services and empowerment. It brings together national talents, competencies, and employers from both sectors. It features a comprehensive database integrated with the Ministry of Education and the Social Insurance Organization.
