ISLAMABAD: The unemployment rate slightly decreased from 6.9 per cent in 2018-19 to 6.3 per cent in 2020-21 showing that job opportunities are being created in the country, the Economic Survey 2021-22 revealed.
According to the survey, the labour force increased from 65.5 million in 2017-18 to 71.76 million in 2020-21 and the number of employed persons increased from 61.71 million to 67.25 million during the same period, which showed that 4.51 million people from labour force could not get job in FY2021.
Besides, according to the Labour Force Survey (LFS) 2020-21, the overall employment to population ratio is 42.1 per cent and this ratio is higher in male (64.1 per cent) as compared to female (19.4 per cent.
The overall unemployment rate is 6.3 per cent with a prevalence of higher unemployment rate 12.2 per cent among 20-24 years compared with 11.8 per cent in 2018-19. The youth unemployment rate is quite high as compared to the average unemployment rate, it further stated.
According to LFS FY2021, the share of employment in the agriculture sector decreased from 39.2 per cent in FY2019 to 37.4 per cent in FY2021. Whereas, the share of employment in the construction sector increased from 8.0 per cent in FY2019 to 9.5 per cent in FY2021.This increase shows that job opportunities are being created in the country.
The wholesale and retail trade sector has shown 14.4 per cent employment in FY2021.
Besides, the economic survey stated that Pakistan has some of the greatest demographic opportunities for development in the world as the growing youth population enters adulthood. The demographic dividend can only be achieved with adequate investments in the education and skills of youth, harvesting the fruits of long-term human capital development.
The government has started different programmes for improving employment opportunities for youth such as “Youth Entrepreneurship Scheme” and “Hunermand Programme-Skills for All”.
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