RIYADH — Minister of Human Resources and Social Development Ahmed Al-Rajhi said that the Saudi employment market is undergoing significant development, with more than 2.5 million young Saudi men and women joining the private sector since 2020. He made these remarks while inaugurating the 3rd Global Labor Market Conference (GLMC) in Riyadh on Monday.The two-day conference is attended by ministers of labor from several countries, along with policymakers and experts from around the world, to discuss the key challenges facing global labor markets.Al-Rajhi emphasized that labor markets worldwide are experiencing rapid transformation due to technological advancements, demographic changes, and evolving skills requirements. He noted that the conference highlights the progress of the Saudi labor market under Vision 2030 and promotes global dialogue on workforce transformation by drawing on international experiences.The minister affirmed that artificial intelligence is among the most influential factors reshaping labor markets globally. While robotics and automation have contributed to market efficiency, they have also replaced many traditional roles. He stressed that the future of work is now centered on sustainability and a deeper understanding of labor market transformations. Al-Rajhi explained that the Saudi labor market has witnessed remarkable progress in recent years, reflecting the Kingdom’s serious efforts to strengthen the economy and enhance labor market efficiency. He pointed out that more than 262 million young men and women worldwide face unemployment or lack access to education and training, underscoring the need to focus on labor markets to generate job opportunities. The minister highlighted the importance of skills development and readiness for rapid technological changes, particularly those driven by artificial intelligence. He stated that the Kingdom is leading the global transformation of labor market policies, adding that the conference aims to deepen understanding of labor market dynamics. He noted that the success of labor market reforms depends on strong institutions and effective coordination among government entities. “The Kingdom’s Vision 2030 focuses on strengthening labor market institutions, expanding skills development, and increasing workforce participation,” he said. Al-Rajhi also announced the launch of the Takamul Academy, which aims to expand its reach to 75 countries over the next three years. He added that the conference will feature the presentation of research papers developed in collaboration with the World Bank, addressing rapid global transformations, particularly in labor markets. The minister said that the global shift toward environmental sustainability has led to a significant increase in green jobs, while geopolitical developments are having a direct impact on the future of work and employment markets worldwide. He further outlined international experiences, including Singapore’s approach to linking labor market development with investment in education, stressing the importance of exchanging experiences among countries and individuals to achieve a deeper understanding of labor markets. On the sidelines of the conference, a ministerial meeting was held with the participation of labor ministers. Discussions focused on major challenges facing labor markets, including technological transformation, skills development, the informal economy, improving job quality, empowering youth and women, and promoting inclusivity.Addressing the meeting, ministers emphasized that investment in human capital is central to economic growth. They called for flexible policies to address the rapidly evolving labor market and stressed the need to translate discussions into concrete actions through collaborative programs and partnerships with global organizations.As many as 40 labor ministers and more than 200 international speakers are participating in the conference, along with over 10,000 delegates from within and outside the Kingdom. The program includes more than 50 sessions and events, underscoring the GLMC’s role as a global platform for shaping the future of work.