Ali Al Eid News Today

The unemployment rate among Saudis approached the target of 7 percent, which was set in Vision 2030. At the end of the fourth quarter of 2023, unemployment declined to 7.7 percent, supported by a greater female participation in the labor market. Human resources experts link this positive development to corrective strategies for the labor market and nationalization programs, as well as specialized programs that target the private sector.

Amid continued government support to stimulate Saudi non-oil activities and increase their contribution to the gross domestic product, the sector’s companies registered a strong performance in October, the highest in 9 years. During the third quarter of 2023, non-oil revenues in Saudi Arabia jumped by 53 percent, on an annual basis, to reach SAR 111.5 billion ($29.7 billion), compared to about SAR 72.8 billion ($19.4 billion) in the same quarter of 2022.

DHAHRAN, Saudi Arabia: The white walls of the innovation lab at Ithra were once again illuminated as it served as a physical backdrop to the digital blank canvas that will bring to life some of the most ambitious projects to date. The new cohort of Creative Solutions kicked off on June 2, where selected cohorts gathered to team up and be introduced to the program.