The average number of new jobs to be provided by the public sector in Saudi Arabia from 2015 to 2025 will reach roughly 84,000 jobs a year, compared with an average 103,000 jobs between 2006 and 2004, a specialised economic report forecasts.
The report, issued by Jadwa Investment, confirms that the Saudi private sector is able to play an important role in reducing the unemployment rate amid the Saudis, adding that there is a big opportunity for private sector companies to direct their investments towards activities that will contribute in developing Saudis’ human potentials, London-based Asharq Al-Awsat Newspaper reports.
The report suggests that to achieve a zero per cent unemployment rate by 2025, the number of jobs that go to Saudis in the private sector should reach 200,000 jobs a year.
The report points out that the large gap in wages between Saudis and non-Saudis, and the mismatch between the private sector’s needs and learning outcomes, are factors hindering the opportunity to achieve the targeted unemployment rate among Saudis within ten years.
Wholesale, retail, construction, manufacturing and trade sectors are the sectors with the greatest ability to raise the level of Saudisation rates among them, as they are the sectors than can create the biggest number of jobs for Saudis.
Data issued by the Saudi Central Department of Statistics & Information revealed that the comprehensive unemployment rate (including Saudis and non-Saudis) is considered good according to international standards, standing at 5.7 per cent during the first half of 2015.