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The National Labor Observatory (NLO) has issued the "Labor Market Benchmarking" report for the Kingdom of Saudi Arabia for the year 2023. This report reviews the Kingdom's international status compared to the G20 countries, which represent the most influential and active economies in the global economy. These countries account for two-thirds of the world's population, 90% of the world's gross national product, and 80% of global trade volume.

The report aims to identify key areas for improvement in the labor market, enhance the Kingdom's international standing, and provide insights to a wide range of stakeholders regarding key performance indicators in the labor market to measure and analyze time trends over previous years.

According to the report, the Kingdom achieved the highest workforce growth rate among all G20 countries for the periods 2012-2021 and 2016-2021. Specifically, the rate of female participation in the labor market in the Kingdom increased by 5.5% during 2016-2021, while Australia ranked second with a rate of 2.1%. Additionally, the Kingdom ranks among the highest in male participation rates, holding the second highest rate of male workforce participation among the G20 countries.

The report showed an overall increase in employment rates in the Kingdom between 2016-2021. This increase reflects the efforts made in the field of employment over the past years, resulting in a 10% increase in female employment rates during 2016-2021.

The report highlights several important findings, noting that the Kingdom has made significant progress in some key labor market performance indicators, including the annual growth rate of the workforce (both citizens and non-citizens), employment growth, and the growth in labor force participation rates. This progress is attributed to several factors, including economic growth in the Kingdom and an increase in the number of young people supporting workforce growth. These factors are considered economic enablers that every country seeks to exploit through quality education and training and optimal employment. This includes continuous coordination between educational and training institutions and labor market-related entities to achieve the best alignment between educational and training outputs and labor market requirements.

It is worth noting that the "Labor Market Benchmarking" report, published by the National Labor Observatory, is released annually. The National Labor Observatory was established by a royal decree in 2010 to be the main and reliable source of labor market data.