Last Updated on: 7th September 2023, 05:58 am
Saudi Arabia Raises Minimum Wage For Private Sector Workers
Saudi Arabia announced Monday that the minimum wage for its citizens working in the private sector would rise to SR 4,000 (US$1,066) from the previous SR 3,200 (US$853).
This change, sponsored by the Human Resources Development Fund (HADAF), is effective as of today (September 5, 2023).
The wage increase is an important step by the Saudi government in its efforts to improve the domestic job market. According to HADAF, the goal of this change is to increase recruitment of Saudi nationals in the private sector.
In addition to the salary adjustments, HADAF has also made other changes, including revising the deadline for companies to apply for salary support.
Businesses can now apply for HADAF grants for their employees’ wages just 90 days after a worker’s enrollment. This means companies are responsible for paying full salary for the first 90 days after hiring.
Businesses can receive aid from HADAF for a period of between 91 and 180 days, but applications for wage aid beyond 180 days will no longer be considered by the fund.
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