Jan 5 – Pakistan’s unemployment rate has risen from 1.5% to 7% over the past decade, according to a report by the Ministry of Planning, as cited by ARY News.
The report highlights that the country’s GDP growth rate is insufficient to meet the needs of critical sectors such as health and education, exacerbating the employment crisis.
Currently, Pakistan’s unemployment rate surpasses that of neighbouring countries India and Bangladesh. Women, in particular, face significant challenges in accessing job opportunities in the socially conservative country. The data also points to population growth as a significant factor, with an annual increase of 5 million people contributing to poverty and making it harder to address basic needs such as health and education.
To meet employment demands, Pakistan requires 1.5 million new jobs every year. The Planning Commission recommends that a reduction of at least 6% in inflation is necessary to lower youth unemployment, while a 17% reduction is needed to address unemployment among women. However, inflation remains high, with the Sensitive Price Indicator (SPI) showing a 3.97% year-on-year increase as of January 2, according to the Pakistan Bureau of Statistics.
Key commodities have seen notable price hikes. Sugar prices have increased for the fifth consecutive week by PKR 1.31 per kilogram. Other essentials have also become costlier, with onions rising by PKR 6.37 per kilogram, bananas by PKR 3 per dozen, and ghee by PKR 7.73 per 2.5 kg tin.
In Pakistan-occupied Gilgit-Baltistan, unemployment among youth remains a significant issue. Despite the region’s natural beauty and potential for economic development, university graduates struggle to find meaningful employment, reflecting the broader challenges facing the country’s job market.
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