Tackling the Menace of Unemployment
If economic growth rate does not produce enough jobs, review the policies!
Hassaan Bin Zubair
It is a hard fact that unemployment has become the number one problem of Pakistan. Irrespective of how you approach the unique set of challenges that face Pakistan, it seems that lack of employment is at the heart of them all. Be it terrorism, health issues or political turmoil, the buck stops at the prevalent job crisis. At present, Four million young people between the ages of 15-24 years are unemployed and this number is set to rise to 8.6 million by 2020. It might be unfair to say that governments have done nothing to address the issue. What is true, though, is that the approach they have used so often is marred by various flaws and needs a major overhaul. The unemployment rate is on the rise, depriving a sizable segment of the population of its livelihood and preventing the harnessing of the real potential of both manpower and natural resources for development.
Pakistan is currently plagued with the menace of unemployment. Pakistan Bureau of Statistics (PBS) in its latest Labour Force Survey (for FY2017-18) claimed that unemployment rate stood at 5.8 percent, down from 5.9 percent in the previous year. The unemployment rate in females decreased to 8.3 percent from 9 percent. However, the unemployment increased in males from 5 percent to 5.1 percent in the new survey. In employment, the own account worker ratio has reduced to 34.8 percent in 2017-18 from 36.1 percent. The contributing family worker ratio stood at 21.4 percent, down from 23.8 percent. Meanwhile, the number of employees has increased to 42.4 percent from 38.7 percent. In sector wise, the employment rate in agriculture sector has gone down to 38.5 percent in 2017-18 from 42.3 percent. On the other hand, employment in industry and services sectors has enhanced during previous fiscal year.
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