The average wages of Saudis in the private sector increased by 45% within 5 years

The National Labor Observatory revealed that the average wages of Saudis working in the private sector increased during the past five years, with a growth rate that reached 45%, from 6.6 thousand riyals in 2018 to reach 9.6 thousand riyals in the current year (2023), indicating that the high rate of wages of Saudis is due to The economic growth and reforms that the Kingdom has witnessed since the launch of the Kingdom’s Vision 2030 programs and initiatives, as well as the success of the support packages provided by government agencies to the business sector during the Corona pandemic, in addition to the support and stimulation that the private sector is finding for competitiveness, and the increased attractiveness and efficiency of the Saudi labor market.

According to the Observatory report, the number of citizens receiving wages of more than 20 thousand riyals during the same period increased by 139%, rising from 84.7 thousand citizens in 2018, to reach 202.7 thousand citizens during the current year 2023, attributing this to the improvement of skills related to the labor market and the quality of work. Jobs, efficient work environment, and high demand for specialized jobs.

The report also showed an increase in the number of citizens receiving wages of more than 40 thousand riyals during the same period, by 172%, rising from 16 thousand citizens in 2018, and reaching 44 thousand citizens in the current year 2023, as the report attributed this to the increase in leadership skills among citizens. The high demand for competencies in major projects and companies, as well as the high demand for specialized jobs.

It is noteworthy that the National Labor Observatory has been activated to be the main and reliable source of labor market data and visuals, which contributes to supporting decision-making through accurate data, indicators, reports, and studies, and provides a group of products specialized in the labor market that enable anticipating the future of the workforce.

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