RIYADH — Minister of Human Resources and Social Development Ahmed Al-Rajhi said that the freelancing has provided growing opportunities for Saudi jobseekers and the number of those working in this sector has jumped to 2.2 million this year. "Saudi Arabia has made great progress in the employment market, thanks to Vision 2030 as it has been instrumental in bringing sustainability for young people to enter this market," he said while chairing the roundtable meeting of ministers of labor held on the sidelines of the second Global Labor Market Conference at the King Abdulaziz International Conference Center in Riyadh on Wednesday. Director General of the International Labor Organization (ILO) Gilbert F. Houngbo and 40 ministers of labor from different countries attended the roundtable meeting. Al-Rajhi said that Saudi Arabia has launched a national strategy for youth development this year. "This strategy includes programs to develop leadership and innovation skills among young people, and there is a clear focus on young men and women who will be the core of our focus in the labor market," he said. He said that young people need more than employment and deserve opportunities to live a decent life, noting that "the innovation methodology helps confront all the challenges we face in the labor market." The minister highlighted that by hosting the conference, Saudi Arabia aims to become a leading hub for forecasting the future of labor markets and driving their development. He emphasized that the conference serves as a strategic global platform to foster cooperation, unify international efforts, and exchange expertise, with the goal of creating innovative solutions to address labor market challenges and boost their sustainability, particularly amid rapid technological advancements. The meeting addressed the urgent challenges facing global labor markets and facilitated an exchange of ideas and expertise. The ministers reviewed key trends and challenges, which helped establish a solid foundation for developing practical strategies that support future transformations and enhance the sustainability of labor markets. Following the discussions, Al-Rajhi announced eight decisive measures designed to enhance labor market flexibility and inclusiveness. These measures include enhancing programs and initiatives that support facilitating the transition of young people from education to the work environment; empowering the workforce to adapt to the future of work in the era of AI; increasing investment in human capital development; improving labor market flexibility to accommodate diverse work arrangements such as remote and part-time opportunities; supporting the growth of small and medium enterprises to drive job creation; launching initiatives to promote the employment of marginalized groups, including people with disabilities and the long-term unemployed; establishing a comprehensive labor market data system to track employment trends, skills, wages and workforce composition to support transformations in the labor market; and the use of technology platforms and skill classifications that link education, job seekers and employers together. Al-Rajhi inaugurated the second Global Labor Market Conference, which is being held under the patronage of Custodian of the Two Holy Mosques King Salman. The two-day conference brought together 40 labor ministers from the G20, Europe, Asia, the Middle East and Africa, and the Americas. It also featured the participation of global experts, leaders, and more than 5,000 participants and 200 speakers, including policymakers, specialists, and experts from over 100 countries. In his speech, Al-Rajhi stressed that the conference had become a leading platform for shaping the future of labor markets. He highlighted the conference's critical importance amid the major transformations shaping and reshaping global labor markets. He noted that the world is witnessing rapid technological advancements, fundamental demographic shifts, and emerging challenges such as climate change adaptation, all of which require proactive and bold steps to prepare for future challenges. The minister also addressed the growing global challenges in the labor market, noting that around 67 million young people are currently unemployed, and nearly 20 percent of individuals aged 15 to 24 are neither employed nor engaged in education or training programs. Also, around 40 percent of employers face difficulties filling job vacancies due to a mismatch between workforce skills and labor market demands, with youth unemployment exceeding 30 percent in some regions of the world. Al-Rajhi noted that Saudi Arabia is taking pioneering steps to improve and stimulate its workforce. "The workforce in the Saudi private sector has exceeded 12 million, and the number of Saudis in the private sector rose to 2.4 million in 2024, as more than 700,000 jobs have been added for Saudis in the private sector. This development, supported by training programs and others, reduced unemployment rates to 3.7 percent by the end of the last quarter of 2024, a remarkable development compared to 2020, when the rates were 5.7 percent, while female participation in the labor market increased to 36 percent, exceeding the targets of Vision 2030," he said. The minister outlined several pioneering initiatives launched by the Kingdom under the Saudi Vision 2030 to empower its workforce and drive labor market transformation. These include training programs, legislative initiatives, the National Youth Development Strategy launch, and the Cooperative Training Policy. Al-Rajhi also unveiled two key initiatives aimed at turning challenges into opportunities. The first is the launch of the Labor Market Academy, based in Riyadh, while the second is the Future Outlook Report, which provides practical recommendations based on in-depth research and presents innovative strategies to bridge skills gaps and promote lifelong learning.
