Al-Madina newspaper

THE title a report in Al-Watan newspaper was “Half a million Saudis leave the labor market”. The newspaper cited statistics provided by the General Organization for Social Insurance (GOSI).

This means that 1,881 employees leave the labor market every day, which is an unexpectedly large number. The number is likely to increase in coming days because of the conditions the private sector is experiencing, aggravating the condition of Saudi families that are already reeling under difficult circumstances.

Meanwhile, the number of insured non-Saudi employees increased to 8.210 million at the end of 2016 to 8.513 million, while the number of insured Saudis, males and females including, rose to 1.890 million, compared to 1.878 million last year.

Half a million Saudis leaving the job market is a big deal because this is a huge number and should not be underestimated. The bulk of these people leaving the job market have families with an average of at least three members to support. The total number of people affected may thus reach 1.3 million. Between women and children they include young people who will suffer due to a lack of regular income to have a decent life.

The situation is expected to continue for years when more of our people will be leaving the labor market. In the absence of a viable strategy in place or any urgency to address the problem, unemployment will inevitably lead to many consequences.

Unemployment is one of the most serious problems that threaten security, stability and cohesion in society. While other countries are striving to solve the problem of unemployment, we find the issue getting aggravated to an alarming level in our country.

Is it possible to find solutions to the problem in current circumstances? The answer certainly lies with the stakeholders concerned.