Latest news with #SR1.83
Saudi Gazette
03-07-2025
- Business
- Saudi Gazette
HR Ministry: Saudization instrumental in employing 2.5 million citizens in private sector
Saudi Gazette report RIYADH — The Ministry of Human Resources and Social Development stated that Saudization programs and support provided to the private sector have resulted in generating jobs for a record number of Saudis in this sector, reaching 2.48 million Saudi men and women. The ministry said that the Human Resources Development Fund (HADAF) supported this growth by employing 143,000 Saudi citizens during the first quarter of 2025, while the money spent on training, empowerment, and guidance programs amounted to approximately SR1.83 billion. The ministry indicated that the unemployment rate among Saudis dropped to its lowest level, since the beginning of statistical monitoring, reaching 6.3 percent, and this reflects the cumulative impact of national programs and initiatives aimed at developing the labor market and empowering national cadres. The ministry noted that this progress is a continuation of the development path the Kingdom is witnessing in various fields. It previously exceeded the 7 percent target of the Kingdom's Vision 2030, six years early, and is confidently moving towards the new 5 percent target, in light of the directives and updates recently announced. The ministry noted the record levels of Saudi women's participation in the labor market, with their unemployment rate falling to 10.5 percent—a historic low—compared to 11.9 percent in the fourth quarter of 2024, representing an annual decrease of 3.7 percentage points compared to the same period last year. This confirms the impact of programs and initiatives that include women's economic empowerment, providing a stimulating and safe work environment, and enhancing their ability to effectively contribute to national growth. The ministry added that these results embody the impact of the National Labor Market Strategy, adopted by the Ministry of Human Resources and Social Development, which aims to develop policies and regulations, empower the national workforce, and strengthen partnerships with the private sector and relevant entities.
Saudi Gazette
21-05-2025
- Business
- Saudi Gazette
Saudi beneficiaries of HADAF support jump 93% to 143,000 in 1Q 2025
Saudi Gazette report RIYADH — The Human Resources Development Fund (HADAF) has extended support to hire as many as 143,000 Saudi men and women in the private sector establishments during the first quarter of 2025 and this figure showed a jump of 93 percent compared to the same period last year. The HADAF said in a statement that the number of beneficiaries of the training, empowerment, and guidance services and programs, carried out by the Fund, during the first quarter of this year reached 1.18 million, a growth rate of 4 percent compared to the first quarter of last year. The number of establishments that benefited from the HADAF support programs during the same period exceeded 98,000 in various sectors of the labor market across the Kingdom. This number recorded a growth rate of 37 percent compared to the same period last year, of which 93 percent were medium, small, and micro enterprises. The total amount spent by HADAF on training, empowerment, and guidance support programs during the first quarter amounted to SR1.83 billion. HADAF Director General Turki Al-Jawini said that the Fund works in effective partnership with various government and private sector entities to support and empower Saudi men and women to obtain job opportunities in the labor market. "The Fund has witnessed many transformations stemming from our leadership's commitment to investing in human capital," he said. Al-Jawini indicated that there has been remarkable growth in the number of Saudi individuals and private sector establishments that benefited from the Fund's training, empowerment, and guidance support services and programs. This is part of the Fund's efforts to meet the changing demands and requirements of the labor market and improve its is after taking into account the needs and priority economic sectors, and developing training, empowerment, and career guidance support programs targeting national cadres, in line with achieving the goals of Saudi Vision 2030 and the Labor Market Strategy.
