Dubai, UAE — The number of employees at capital market institutions rose by 103 quarter-on-quarter (QoQ) to 5,524 by the end of the second quarter of 2023, according to the latest data from the Capital Market Authority (CMA).
Males accounted for 80 percent of the employees at capital market institutions, with 4,400 employees, while the number of females stood at 1,124.
Meanwhile, the Saudization rate at these institutions reached 75 percent by the end of Q2, according to the Capital Market Institutions Report from 77 percent in Q1.
The Saudi government continues to implement ambitious plans to combat unemployment in the Kingdom, many years after it was rampant with peak rates approaching 13 percent.
Since the launch of Vision 2030 economic reforms, the country has significantly reduced unemployment rates through measures that heavily rely on localizing jobs and activating private-sector employment for Saudis.
The government’s plan to combat unemployment is based on a gradual decrease in its rate. The unemployment rate reached 12.9 percent between 2016 and 2018.
The General Authority of Statistics said in March that the unemployment rate among Saudis fell to 8 percent in Q4 of 2022.
Moreover, the unemployment rate for Saudi women decreased to 15.4 percent in Q4 2022 from 20.5 percent in Q3 2022.
