Saudi labor ministry needs $4bn a year to reform job market

A total of 751,000 Saudi men and women were employed during this period. (File photo: Shutterstock)

The Ministry of Labor has said it needs $3.9 billion a year to reform the labor market and execute the strategy aimed at ending unemployment among Saudis.

According to local daily Al-Madinah on Sunday, the ministry’s request has been submitted to the government and is currently being studied by its experts.

“The resources are needed to finance the various stages of the employment strategy to ensure its continuity and success,” the ministry said in a statement.

It said it has successfully implemented a short-term strategy aimed at providing Saudis with more job opportunities.

A total of 751,000 Saudi men and women were employed during this period, a figure that surpassed the ministry’s target, it said.

According to the ministry, the employment of women has gone up by about 723 percent from 48,406 before the implementation of the strategy to 398,538 women now.

“This is an unprecedented ratio,” it added.

This article was first published in the Saudi Gazette.
 

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Last Update: 06:08 KSA 09:08 - GMT 06:08
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