965,000 employees earns more than 10000 riyals as Salary in Saudi Arabia
According to the latest official data of Saudi Arabia, the total number of employees who earn 10000 riyals or more in the Saudi Labor market has reached to 965,000 individuals during the second quarter of the Year 2023. Trending : 50% discount on all international fights of Saudi Arabia
The private sector continues to be in the top in hiring employees with highest salaries and the employees in the private sector are the highest paid in the Kingdom of Saudi Arabia.
– As per the new data released by the General Organization for Social Insurance (GOSI), approximately 708,000 people whose salary is over 10,000 riyals are employed with companies and establishments and they represent 73.3% of the total staffers with a salary of more than 10,000 riyals.
– The government of Saudi Arabia is working on programs and initiatives that motivate the private sector to provide more jobs directly or indirectly, especially the employment support from HADAF (Human Resources Development Fund), by bearing a part of worker’s salaries in companies and establishments. Most Viewed : Prohibited items from carrying in flights from Saudi Airports
– The GOSI report shows that the number of workers who has a salary of more than 10,000 riyals in the private sector companies has reached nearly 708,000 compared to 256,000 workers in the public sector.
– The data from GOSI also shows the total number of employees who has a salary of 5,000 riyals to 9,900 riyals has reached over 1 million employees during the second quarter of the Year 2023.
– While those who are earning 10,000 riyals or more in the private sector has reached about 473,000 people, an increase of 66.8% during the second quarter of this year 2023 compared to the same quarter of the Year 2018.
– The Saudi capital city Riyadh has more employees who are earning 10,000 or more in the private and government sectors in the second quarter of the Year 2023. Recommend : New updated penalties on Labor Law violations
– The number of establishments in the Kingdom of Saudi Arabia has reached 1.2 million during the second quarter of this Year 2023, while last year it was 890,200 establishment during the same period, an increase of 28%.
– Saudi Crown Prince and Prime Minister Mohammed bin Salman, who is also the chairman of the Council for Economic and Development Affairs, has launched Shareek program in the Year 2021, to strengthen partnership with the private sector of local companies.
– This program allows the government’s collaboration with large companies in the private sector with the aim of maximizing their investment plans in Saudi Arabia, which will boost economic growth. Join Saudi Expatriates channel on Instagram
– The aim of the Shareek program is to develop partnership with the public and private sectors and to speed up the achievement of strategic goals represented in increasing the flexibility of economy and supporting prosperity and sustainable growth.
– This is also to enhance the development and resilience of the Saudi economy by increasing the GDP (Gross Domestic Product), giving more job opportunities and diversifying the economy.
– In addition, the launching of private sector as well as the to gather investments across all the economic aspects with a target of 5 trillion riyals by the Year 2030, and add up to 2 trillion riyals to the GDP by the Year 2025, in addition to creating several new jobs. See Also : How to Chat Lock on WhatsApp