Saudi Arabia Unveils Bold Labor Market Initiatives at GLMC Second Edition

Key Takeaways:

• H.E. Eng. Ahmad bin Sulaiman AlRajhi, Minister of Human Resources and Social Development, chaired a high-level Ministerial Roundtable with 40 labor ministers from around the world.
• H.E. AlRajhi delivered opening remarks on behalf of the Custodian of the Two Holy Mosques.
• The address highlighted global challenges in youth unemployment and skill gaps, with a focus on Saudi Arabia’s Vision 2030 reforms.
• Saudi Arabia announced new global initiatives to shape future labor markets, including the Labor Academy and the Navigating the Future Report.
• Several MoUs were signed to foster collaboration across sectors and enhance workforce capabilities.

Before the official commencement of the Global Labor Market Conference (GLMC) Second Edition, H.E. Eng. Ahmad bin Sulaiman AlRajhi, Minister of Human Resources and Social Development, chaired a high-level Ministerial Roundtable attended by 40 labor ministers from across the globe. The roundtable served as a strategic platform for global leaders to exchange insights on pressing labor market challenges, including youth unemployment, digital transformation, and workforce sustainability. Discussions centered on innovative policy solutions to enhance labor market resilience and inclusivity.

Building on the momentum of these discussions, Eng. AlRajhi then delivered the opening remarks of the GLMC Second Edition on behalf of the Custodian of the Two Holy Mosques, marking the official start of the conference. The speech highlighted Saudi Arabia’s pivotal role in shaping labor market futures and its Vision 2030 as a blueprint for economic and workforce transformation.

In his address, Eng. AlRajhi spotlighted two critical global challenges: youth unemployment, which continues to affect over 67 million people globally, and the disconnect between educational systems and labor market demands. Saudi Arabia's proactive measures, including reducing unemployment to 3.7% and surpassing women's workforce participation targets at 36.2%, were presented as milestones of progress under the Vision 2030 framework.

Two major initiatives were unveiled during the session: the Labor Academy, established in collaboration with the World Bank, will serve as a global hub for training policymakers to address future workforce needs. The Navigating the Future Report, meanwhile, provides actionable insights into emerging labor market trends and strategies to bridge skill gaps, ensuring nations can adapt to the evolving dynamics of work.

Adding to the momentum of the conference, several Memorandums of Understanding (MoUs) were signed between leading entities to strengthen cross-sector collaboration. The Ministry of Human Resources and Social Development partnered with the International Labour Organization (ILO) to align policies with global standards and address pressing workforce challenges. Additionally, an agreement with SABIC Academy and the General Secretariat of Sector Skills Councils aims to enhance skills training, while the Ministry of Tourism signed an MoU with Marriott Hotels Group to advance workforce development in the hospitality sector. These partnerships reflect Saudi Arabia's commitment to aligning workforce capabilities with market demands, fostering a robust and future-ready labor force.

The opening remarks set the tone for the conference’s expansive agenda, which emphasizes collaboration, innovation, and bold actions to address the world’s most pressing labor market issues. With Saudi Arabia taking the lead, the GLMC reinforced its position as a global platform driving actionable solutions and transformative change.