By Innovation-sa on November 19, 2017 in News
A report by Jadwa Investment Company (JIC) revealed that expatriates in Saudi Arabia have encountered a huge drop in employment opportunities in the second quarter of 2017.
According to the report, there has been a drop of around 161,500 new job openings for expatriates in the last four months. Moreover, with the implementation of dependent fees, there has been an increase in the number of expatriate families returning home. This has reduced the employment of non-Saudi women largely.
At the same time, with 28,900 new job openings, the employment rate of Saudis has shown an upward trend, of which 60 percent are men and the remaining are women.
The report also highlighted the increase in rate of Saudization of jobs from 42.5 percent in the second quarter of 2016 to 43.1 percent in 2017. This aided in reducing the unemployment rate among the Saudi youth by around 15.9 percent.
Meanwhile, the Kingdom is on a move to localize all economic, commercial, industrial and service oriented jobs gradually, said Ali Al- Ghifais, Minister of Labor and Social Development. He also added that the ministry is currently involved in the third phase of Saudization which focusses on restricting jobs in malls and commercial centers to only Saudis. As a result, 80 percent of jobs in these areas have already been Saudized. Moreover, all jobs available in sales points will soon be localized.
The Nitaqat programs undertaken by the government as well as the imposition of dependent fees on expatriates have caused a large population of non-Saudis to leave the Kingdom.