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The Global Labor Market Conference (GLMC), has experienced the finalizing of 31 contracts and Memoranda of Understanding (MOU) in between various entities, aiming to provide countless training chances and jobs for the international labor force. This agreement was signed at the second edition of the GLMC 2025, introduced in Riyadh, Saudi Arabia, by His Excellency Engineer Ahmad Bin Salman Alrajhi, the Minister of Human Resources and Social Development, along with 40 labour ministers. According to the ministers, these initiatives will concentrate on qualifying diverse groups, such as new graduates, employment females, and individuals with disabilities, for suitable work through specialised training programs, including development, educational initiatives, leadership preparation, and knowledge-sharing partnerships Data from the Organisation for Economic Cooperation and Development (OECD), approximately 67 million young people are currently out of work, and almost 20 percent of people aged 15 to 54 are either employed or engaged in education, institutions, or training programmes. Read also: Boost for entrepreneurs as IBPLC produces tasks with Hero apprenticeship initiative

These statistics have likewise revealed that nearly 40 percent of companies report troubles in filling jobs due to an inequality between workforce skills and labour market needs, with youth unemployment going beyond 30 percent in some regions globally. Related News Canadian province adds 13,000 kid care spaces, to increase to 28,000 by 2026, hence developing jobs
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Highlighting the significance of these arrangements, Alrajhi said "These figures highlight the immediate need to establish comprehensive strategies to resolve these common challenges efficiently." "Transforming them into chances, eventually we can all interact to guarantee the prosperity of our economies, neighborhoods, and labor forces." The minister also noted that the arrangements focus on enhancing functional effectiveness, promoting development, and driving value creation in alignment with Saudi Vision 2030. Key entities associated with these arrangements consist of the Ministry of Human Resources and Social Development (HRSD), the International Labour Organization (ILO), Takamol Holding, INSEAD, UiPath, Bella Vista Institute of College, the Saudi Logistics Academy, the Ministry of Tourism, and Princess Nourah bint Abdulrahman University. The GLMC's MOU will see a number of notable partnerships emerged. INSEAD will provide scholastic services, while partnerships with Space Faculty and ProFun will check out innovation and knowledge sharing. Bella Vista Institute and the Saudi Logistics Academy will provide customized training programmes focused on management advancement and capacity building. The Ministry of Tourism inked MoUs with Marriott Hotels and Arabian Airports to establish labor force qualifications and training initiatives. Princess Nourah University partnered with SEA Ventures to cultivate entrepreneurship advancement. A significant advancement is the facility of the Kaspersky Knowledge Transfer Centre, developed to advance cybersecurity among students and the workforce, amongst others. Share Join BusinessDay whatsapp Channel, to stay up to date

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