Saudi Minister of Human Resources Inaugurates First-Ever Global Labor Market Conference

Riyadh, December 13, 2023, SPA -- Human Resources and Social Development Minister Eng. Ahmad bin Sulaiman Al-Rajhi inaugurated today the first-ever Global Labor Market Conference (GLMC) at the King Abdulaziz International Convention Center in Riyadh.
Over 6,000 participants from over 40 countries attend the conference, including high-ranking Saudi ministers, policymakers, leaders of multinational organizations, heads of businesses, academics, and labor representatives.
In his opening address, Al-Rajhi highlighted Saudi Arabia’s role in efforts to bolster international labor markets and enable them to keep pace with its frequent changes. He said that dynamics in the labor market are nowadays different, and this includes growing demand for skills required by jobs of the future, new professions, and the changing nature of the global workforce.
Al-Rajhi also presented several statistics that show the gravity of ongoing labor market dynamics, related to emerging technologies -- for example the expectation that artificial intelligence-related technologies will create 133 million new jobs by 2030 – or to changing worker preferences, for example that approximately 22 million people in US now work full time from home.
In view of these realities, Al-Rajhi stressed that efforts should be taken to ensure that new technologies are utilized to maximize the value of the global economy, build work environments free of exploitation, and avoid widespread sudden job losses.
The minister also reviewed Saudi Arabia’s labor market, saying that it is one of the world’s most diverse, and that it has an established status as a preferred destination for some of the global community’s brightest minds and top talents. It also makes use of local talent, particularly young Saudis who have achieved high levels of preparation and education.
The talents of this cohort, he said, have driven the Kingdom’s push for a private sector-led work environment that meets Saudis’ needs.
Complementing the local with the global, the minister added, Saudi Arabia is keen to cooperate with international partners to strengthen resiliency, particularly in light of past international crises that demonstrated the need for a unified approach.
Only by cooperating, said Al-Rajhi, can the global community leverage global labor markets dynamics to bring about positive change on a global scale.
Some 150 experts will participate in the two-day conference that will feature 40 keynote addresses, panel presentations, and breakout sessions focused on the current challenges and changes facing labor markets.
The sessions will cover eight key tracks: Global Labor Market Catalysts, Skills & Productivity Conundrums, Labor Market Makeovers, Work for All, AI Needs People, Labor Market Re-engineered, The Right Way to (De)Regulate, and The Future-Proofed Organization.
The morning’s events were preceded by a ministerial roundtable during which Al-Rajhi received minister-level labor officials from over 24 countries. Participants discussed the most pressing opportunities and changes facing labor markets, and suggested joint efforts that can be exerted to address challenges.
Al-Rajhi also stressed that the current stage of the global labor market evolution necessitates international solidarity, cooperation and exchange in order to effectively respond to rapid, unprecedented changes related to workplace practices, emerging technologies, and geopolitical circumstances.
He told the ministers taking part in the roundtable that GLMC is an opportunity to engage in dialogue and exchange knowledge in order to formulate policies that lay the foundation for work environments that are resilient to ongoing and future challenges.
--SPA