The Banking Executive Magazine - March 2023 Issue

Career Chronicle According to official data, 80 percent of the workforce in the local labor market – both citizens and residents – fall under five age groups, totaling 1.5 million people of ages from 25 to 49 years, reports Al-Anba daily. As per the labor market data as of the end of March, citizens and residents of ages 50 years and above in the labor market constitute about 18 per- cent of the market force with about 344,970 citizens and residents. The data indicates that the Kuwait labor market does not witness the employ- ment of those between the ages of 15 and 19 years. On the other hand, about 34,765 cit- izens and residents between the ages of 20 and 24 enter the labor market on a regular basis. In terms of ranking citizens and residents in the local labor market according to age groups, citizens and residents aged 30 to 34, totaling 352,240, ranked first, constituting more than 18 per- cent of the workforce in Kuwait. Workers in the age group of 35 to 39 years ranked second with 350,674 male and female workers. Citizens and residents in the age group from 40 to 44 years ranked third with 315,576 male and female workers. Workers in the age group from 25 to 29 years ranked fourth with 253,140, and in the fifth place is workers in the age group from 45 to 49 years, with 233,500 male and female workers. In terms of citizens in the labor mar- ket, those in the age group from 25 to 49 years constitute 85 percent of the Kuwaiti workforce. Male and fe- male citizens in the age group from 30 to 34 years represent the highest percentage of employees among cit- izens, with a total of 91,370 employ- ees. This is followed by those of the age group from 25 to 29 years old, with 89,829 male and female citizens, then 81,890 male and female citi- zens of the age group from 35 to 39 years, then 62,140 male and female citizens of the age group from 40 to 44 years, and then in the fifth place is 45,420 male and female citizens of the age group from 45 to 49 years. It was worth mentioning that female citizens, with a total of 217,200 em- ployees, accounted for the highest percentage of Kuwaitis in the age groups most present in the labor mar- ket, by more than 58.4 percent, com- pared to 153,450 male citizens in the same age groups. The data showed a significant decline in the number of citizens – men and women – of ages the BANKING EXECUTIVE 46 ISSUE 171 MARCH 2023 80% WORKERS IN KUWAIT'S LOCAL MARKET AGED BETWEEN 25 & 49 YEARS