Under the patronage of Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud, Minister of Human Resources and Social Development Eng. Ahmed Al-Rajhi inaugurated the second Global Labor Market Conference (GLMC) in Riyadh on January 29, 2025. The event, held at the King Abdulaziz International Conference Center, convened 40 labor ministers from G20 nations, Europe, Asia, the Middle East, Africa, and the Americas, alongside International Labor Organization Director-General Gilbert Houngbo, over 5,000 participants, and 200 speakers from more than 100 countries.
Context and Background
This conference builds on the success of the inaugural GLMC held a year ago, which has rapidly become a leading international platform for shaping the future of labor markets. The gathering occurs amidst major global transformations, including rapid technological advancements, fundamental demographic shifts, and emerging challenges such as climate change adaptation, as highlighted by Minister Al-Rajhi in his opening remarks. Saudi Arabia’s hosting of this event underscores its growing role in global labor policy dialogue.
Key Details
Minister Al-Rajhi emphasized the critical importance of proactive and bold steps to prepare for future labor market challenges. He highlighted pressing global issues: approximately 67 million young people are currently unemployed, nearly 20% of individuals aged 15 to 24 are neither employed nor in education or training, and about 40% of employers face difficulties filling vacancies due to skills mismatches. Youth unemployment exceeds 30% in some regions. The minister also outlined Saudi initiatives under Vision 2030, including training programs, legislative reforms, the National Youth Development Strategy, and the Cooperative Training Policy. Two new initiatives were unveiled: the Labor Market Academy, based in Riyadh, and the Future Outlook Report, which provides research-based recommendations to bridge skills gaps and promote lifelong learning.
Implications and Impact
The conference serves as a vital forum for international cooperation on labor market challenges, fostering dialogue between governments, international organizations, and experts. Saudi Arabia’s leadership in hosting this event positions the Kingdom as a key player in addressing global unemployment, skills mismatches, and demographic shifts. The participation of officials from over 100 countries highlights the conference’s global reach and its potential to influence policy frameworks worldwide, contributing to more resilient and inclusive labor markets.
Vision 2030 Alignment
The Global Labor Market Conference directly supports Saudi Arabia’s Vision 2030 goals of economic diversification, workforce empowerment, and global engagement. By launching initiatives like the Labor Market Academy and the Future Outlook Report, the Kingdom is investing in human capital development and fostering innovation. This event exemplifies Saudi Arabia’s commitment to becoming a leader in shaping sustainable and future-ready labor markets, aligning with the vision’s ambition to build a thriving society and a diversified, competitive economy.
20 Questions
Q1. What was the key event inaugurated under the patronage of King Salman?
A1. The second Global Labor Market Conference was inaugurated by Minister of Human Resources and Social Development Eng. Ahmed Al-Rajhi, under the patronage of Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud.
Q2. Where and when did the Global Labor Market Conference take place?
A2. The conference was held on January 29, 2025, at the King Abdulaziz International Conference Center in Riyadh, Saudi Arabia.
Q3. How many labor ministers participated in the conference?
A3. The event brought together 40 labor ministers from G20 nations, Europe, Asia, the Middle East, Africa, and the Americas.
Q4. Who is the Director-General of the International Labor Organization that participated?
A4. Gilbert Houngbo, the Director-General of the International Labor Organization, participated in the Global Labor Market Conference.
Q5. How many participants and speakers attended the conference?
A5. The conference featured over 5,000 participants, 200 speakers, and experts from more than 100 countries.
Q6. What did Minister Al-Rajhi stress in his opening remarks?
A6. He stressed that the conference had become a leading platform for shaping the future of labor markets, thanks to global contributions and participation.
Q7. What major global challenges did the minister highlight?
A7. He highlighted rapid technological advancements, demographic shifts, and climate change adaptation as major challenges requiring proactive steps.
Q8. How many young people are currently unemployed globally?
A8. According to the minister, around 67 million young people are currently unemployed worldwide.
Q9. What percentage of youth are neither employed nor in education?
A9. Nearly 20% of individuals aged 15 to 24 are neither employed nor engaged in education or training programs.
Q10. What difficulty do 40% of employers face?
A10. About 40% of employers face difficulties filling job vacancies due to a mismatch between workforce skills and labor market demands.
Q11. In which regions does youth unemployment exceed 30%?
A11. Youth unemployment exceeds 30% in some regions of the world, as noted by Minister Al-Rajhi.
Q12. What Saudi initiatives support workforce empowerment under Vision 2030?
A12. These include training programs, legislative initiatives, the National Youth Development Strategy, and the Cooperative Training Policy.
Q13. What is the Labor Market Academy initiative?
A13. The Labor Market Academy is a new initiative, based in Riyadh, aimed at turning labor market challenges into opportunities through education and training.
Q14. What does the Future Outlook Report provide?
A14. The Future Outlook Report provides practical recommendations based on in-depth research and presents strategies to bridge skills gaps and promote lifelong learning.
Q15. How does the conference support Saudi Vision 2030?
A15. It supports Vision 2030 by advancing workforce empowerment, economic diversification, and global engagement through human capital development initiatives.
Q16. What is the role of the International Labor Organization at the conference?
A16. The ILO, represented by its Director-General, participated as a key partner in global labor market dialogue and policy discussions.
Q17. How many countries were represented at the conference?
A17. The conference included participants and speakers from more than 100 countries worldwide.
Q18. What is the significance of the King Abdulaziz International Conference Center?
A18. It is a major venue in Riyadh that hosted this high-level international event, reflecting Saudi Arabia’s capacity to organize global gatherings.
Q19. How does the conference address skills mismatches?
A19. Through the Future Outlook Report and discussions, the conference focuses on research and recommendations to bridge skills gaps in labor markets.
Q20. What is the forward-looking goal of the Global Labor Market Conference?
A20. The conference aims to proactively shape future labor markets by fostering international cooperation and innovative strategies for global challenges.
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