Unemployment is a central problem for developing countries For many years Pakistan is also facing this problem. Unemployment occurs, when people who are without work are actively seeking paid work that creates a rush in labour market. During a recession period, an economy usually experiences relatively high unemployment rate. In Pakistan, there are many people who don’t have jobs and they are seeking work. According to trading economics, global macro models and analysts expectations Pakistan’s unemployment rate forecast 2016-2020 is expected to be 5.80 per cent by the end of its quarter. In 12 months time, the estimate unemployment rate is to stand at 6.10 and in long term, the Pakistan unemployment rate is projected to trend around 5.70 percent in 2020, according to econometric models.
IPR (Institute of policy reforms),a think tank, has released a fact sheet on employment situation in Pakistan. According to that fact sheet between 2012-13 and 2014-15, the number of jobs created was 1.4 million , the decrease in a number of unemployed workers was 100,000. As such by the end of 2014-15, the number of unemployed workers was 3.6 million. If the GDP growth rate will rise over to 6 percent then we can think that unemployment rate will fall down by some ratio but it can happen by the government and private sector of our state. Simultaneously, the state and also the private sector would both have to invest more in improving the skill endowment of the labour force.
Unemployment created various social, political and economic problems, it generates economic inequality in society. Impact of unemployment in Pakistan are rigorous and dreadful. The poverty pool has widened due to unemployment and security issues. Which lead problems are a turn towards crimes and violence. The rate of unemployment is increasing day by day because of the massive population of our country but we have to solve this problem for better future of Pakistan because Pakistan’s future is our future!