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Hiring activity in Saudi Arabia is expected to surge in 2022 and 2023 on the back of the kingdom’s economic rebound, according to a report by Jadwa Investment.
The unemployment rate among citizens is expected to drop to 10.7 per cent in 2022 and 10.4 per cent in 2023, after declining to 11 per cent in 2021 from 12.6 per cent in 2020, Jadwa said on Wednesday.
The number of expatriate workers in the job market is also expected to increase as the kingdom’s non-oil economy recovers from the Covid-19 pandemic.
The latest data shows expat worker numbers grew by 267,000 in the fourth quarter of 2021, marking the first quarterly increase since the first quarter of 2020.
“The recovery in the labour market during 2021 was associated with a significant rebound in the kingdom’s non-oil economy,” Jadwa said.
“With robust levels of non-oil activities growth anticipated in 2022 (at 3.4 per cent according to our forecasts), we expect further rises in the number of Saudi and expat workers in many sectors.”
Saudi Arabia, the Arab world’s largest economy and Opec’s biggest oil producer, is forecast to grow 7.7 per cent this year from 3.2 per cent last year, helped by higher oil prices and a robust non-oil sector, Jadwa Investment said in a seperate report this month.
The International Monetary Fund also revised its growth forecast for the kingdom in its latest World Economic Outlook on the back of higher oil prices.
The kingdom’s economy is now predicted to grow 7.6 per cent this year, up 2.8 percentage points from IMF's January estimates, and 3.6 per cent in 2023, up by 0.8 percentage points from the previous estimates, the Washington-based fund said on Tuesday.
Job creation is one of the key objectives of Saudi Arabia’s Vision 2030, which aims to overhaul its economy and reduce its reliance on hydrocarbon revenue.
The country is building several projects as it focuses on diversifying its economy. These include Neom – a $500 billion futuristic city comprising a nature reserve, coral reefs and heritage sites in the Red Sea – and Qiddiya, a huge entertainment and sports project. The Red Sea Development Company is also building a mega-tourism project on Saudi Arabia’s west coast.
More Saudi citizens are expected to take up employment in the accommodation and food services sector as tourism and leisure activities in the kingdom expand, while the number of expatriates in the wholesale and retail and professional activities sectors will drop as a result of localisation programmes, Jadwa said.
The hiring of Saudi citizens increased across all sectors last year, with the largest annual growth recorded in public administration, human health and social work, and accommodation and food services, Jadwa said, citing data from the kingdom’s General Authority for Statistics.
Participation of Saudi citizens in the job market rose to 51.5 per cent by the end of 2021, up marginally from 51.2 per cent in 2020, with the private sector recording a significant increase. The number of Saudis employed in the private sector rose to 1.91 million by the end of last year, according to Jadwa.
Meanwhile, the participation of women in the labour force also rose, to 35.6 per cent in 2021 from 33.2 per cent in 2020.
“Higher participation from Saudi female [workers] is being driven by a larger number of first-time job seekers. More specifically, Gastat’s labour market survey showed that the share of unemployed [women] with no previous work experience rose rapidly during the year, from 72 per cent in Q1 2021, to 81 per cent in Q4 2021," the report said.
The number of expatriate workers in the labour market continued to fall in 2021 as a whole, but rose in the fourth quarter owing to higher global vaccination rates, loosening of Covid-19 related restrictions and a rebound in the kingdom’s non-oil economy, it said.
GOLF’S RAHMBO
- 5 wins in 22 months as pro
- Three wins in past 10 starts
- 45 pro starts worldwide: 5 wins, 17 top 5s
- Ranked 551th in world on debut, now No 4 (was No 2 earlier this year)
- 5th player in last 30 years to win 3 European Tour and 2 PGA Tour titles before age 24 (Woods, Garcia, McIlroy, Spieth)
UAE currency: the story behind the money in your pockets
The biog
Name: Shamsa Hassan Safar
Nationality: Emirati
Education: Degree in emergency medical services at Higher Colleges of Technology
Favourite book: Between two hearts- Arabic novels
Favourite music: Mohammed Abdu and modern Arabic songs
Favourite way to spend time off: Family visits and spending time with friends
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What the law says
Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.
“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.
“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”
If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.
COMPANY%20PROFILE
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Walls
Louis Tomlinson
3 out of 5 stars
(Syco Music/Arista Records)
Porsche Taycan Turbo specs
Engine: Two permanent-magnet synchronous AC motors
Transmission: two-speed
Power: 671hp
Torque: 1050Nm
Range: 450km
Price: Dh601,800
On sale: now
On Instagram: @WithHopeUAE
Although social media can be harmful to our mental health, paradoxically, one of the antidotes comes with the many social-media accounts devoted to normalising mental-health struggles. With Hope UAE is one of them.
The group, which has about 3,600 followers, was started three years ago by five Emirati women to address the stigma surrounding the subject. Via Instagram, the group recently began featuring personal accounts by Emiratis. The posts are written under the hashtag #mymindmatters, along with a black-and-white photo of the subject holding the group’s signature red balloon.
“Depression is ugly,” says one of the users, Amani. “It paints everything around me and everything in me.”
Saaed, meanwhile, faces the daunting task of caring for four family members with psychological disorders. “I’ve had no support and no resources here to help me,” he says. “It has been, and still is, a one-man battle against the demons of fractured minds.”
In addition to With Hope UAE’s frank social-media presence, the group holds talks and workshops in Dubai. “Change takes time,” Reem Al Ali, vice chairman and a founding member of With Hope UAE, told The National earlier this year. “It won’t happen overnight, and it will take persistent and passionate people to bring about this change.”
Sole survivors
- Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
- George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
- Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
- Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
FIGHT%20CARD
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Women%E2%80%99s%20T20%20World%20Cup%20Qualifier
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COMPANY%20PROFILE%20
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In the Restaurant: Society in Four Courses
Christoph Ribbat
Translated by Jamie Searle Romanelli
Pushkin Press
MATCH INFO
Uefa Champions League, last 16, first leg
Tottenham Hotspur v Borussia Dortmund, midnight (Thursday), BeIN Sports
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Players Selected for La Liga Trials
U18 Age Group
Name: Ahmed Salam (Malaga)
Position: Right Wing
Nationality: Jordanian
Name: Yahia Iraqi (Malaga)
Position: Left Wing
Nationality: Morocco
Name: Mohammed Bouherrafa (Almeria)
Position: Centre-Midfield
Nationality: French
Name: Mohammed Rajeh (Cadiz)
Position: Striker
Nationality: Jordanian
U16 Age Group
Name: Mehdi Elkhamlichi (Malaga)
Position: Lead Striker
Nationality: Morocco
UAE currency: the story behind the money in your pockets
Abandon
Sangeeta Bandyopadhyay
Translated by Arunava Sinha
Tilted Axis Press
