According to official figures, 1,35,400 foreigners have lost their jobs in Saudi Arabia in the past three months. This is up from the fourth quarter of last year. The number of foreign workers fell by 1.3 per cent during the period. At the end of the fourth quarter, the country had a total of 10.01 million foreign workers, including government and private sector workers and domestic workers. It was 10.2 million in the third quarter of last year.
At the end of the fourth quarter, the country had a total of 13.32 million employees, both national and foreign, in the public and private sectors. It was 13.46 million in the third quarter. A decrease of one per cent in three months. The company reported a decline of 1,36,440 employees in the fourth quarter.
As of the end of the fourth quarter, there were a total of 32.5 million Saudi employees in the public and private sectors. 20.8 lakh males and 11.7 lakh females.
At present, the total Saudiization in the country, including the public and private sectors, is 24.4 per cent. It was 24.2 percent in the third quarter. In the third and fourth quarters, the Saudiisation of government service was 96.2 percent. But in the private sector, Saudiization rose to 24.2 percent. It was 23.8 percent in the third quarter.
According to the data available from 2016, Saudiization in the private sector was the highest in the fourth quarter of last year. The Vision 2030 plan aims to reduce the unemployment rate to seven percent by 2030.
Saudiisation in the private sector has increased significantly since the announcement of the Vision 2030 plan. Saudiization in the private sector increased by 18.1 per cent in 2016, 19.9 per cent in 2017, 21.8 per cent in 2018, 23.2 per cent in 2019 and 24.2 per cent by the end of last year.
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