Turn on more accessible mode
Turn off more accessible mode
Home
|
Media Center
|
Careers
Personal
Accounts
Loans
eBanking
NRI Business
Other Services
Corporate
Corporate Banking
International Banking
Syndicated Loans
Trade Finance
Long Term Finance
Working Capital Facilities
SMEs Facility Application – Law (2) – 2021
Investor Relations
Our Strategy
Financials
Financial News
BBK News
Local & Global Market
Shareholder's Queries
Customer Service
Branch Timing
Request for Support
Security Center
FAQ
Tutorials
Contact Us
About Us
About Us
BBK Network
Subsidiaries
Board of Directors
Executive Management
Divisions
Corporate Governance
Awards
BBK awarded for distinguished Corporate Governance practices
Bahrain’s pioneer in commercial and retail banking
BBK wins first place for excellence in Corporate Governance practices
BBK wins Bahrain eContent Award
BBK newsletter
CINET
BBK Press releases
Latest News
Archives
Financial News
Latest News
Archives
Internet Banking
Retail login
Help
|
Alert
What do you want to do?
Select here
Access Retail Internet Banking
Home
Media Center
Financial News
Archives
Archives
23-05-23
Saudi Arabia's Unemployment Rate Drops to Record Low
(MENAFN) Saudi Arabia's unemployment rate among its citizens reached a historic low of 8 percent in the fourth quarter of 2022, and there are indications that it could continue to decrease with the ongoing efforts of the Human Resources Development Fund (HRDF). According to a press release, the HRDF, which focuses on job placement in the private sector, saw a 26 percent increase in its contributions during the first quarter of 2023, benefiting 96,000 individuals compared to 76,000 in the same period last year.
During the first quarter of 2023, the HRDF allocated SR2.2 billion (USD590 million) to its supporting programs, further reinforcing its commitment to combating unemployment. The press release also highlighted that 836,000 Saudi men and women received training and counseling through the fund, representing a 29 percent increase from the 646,000 beneficiaries in the first quarter of 2022.
Turki Al-Jawini, the director general of the HRDF, commended the Saudi government's efforts in developing human capital within the country and contributing to localization. Localization is a vital aspect of Saudi Arabia's Vision 2030 initiative, which aims to diversify the economy by promoting the growth of non-oil private sector enterprises.
Al-Jawini emphasized that approximately 73,000 establishments across various sectors in Saudi Arabia directly or indirectly benefited from the HRDF's programs during the first quarter of 2023. This highlights the broad impact and reach of the fund's initiatives in fostering employment opportunities and supporting economic growth.
In a recent collaboration, the HRDF partnered with King Saud University to launch the Vocational Counselors Qualification Program. This program aims to enhance and develop national competencies in the educational and vocational sectors, further aligning with the government's vision to build a skilled and knowledgeable workforce.
MENAFN23052023000045014228ID1106293328
View complete sitemap
Personal
Accounts
Loans
Mortgage
eBanking
ATM
Internet Banking
SMS Banking
NRI Business
Other Services
Corporate
Corporate Banking
International Banking
Syndicated Loans
Trade Finance
Long Term Finance
Working Capital Facilities
SMEs Facility Application – Law (2) – 2021
Investor Relations
Our Strategy
Financials
LCR Reports
Financial News
BBK News
Local & Global Market
Shareholder's Queries
Customer Service
Branch Timing
Request for Support
Security Center
FAQ
BBK tariffs
Tutorials
Customer Protection
Contact Us
About Us
About Us
BBK Network
Subsidiaries
Board of Directors
Executive Management
Divisions
Corporate Governance
Follow us