Islamabad, Jan 4: Pakistan’s unemployment rate has surged from 1.5% to 7% over the past decade, according to a report by the Ministry of Planning, highlighting the nation’s growing job crisis. The country’s GDP growth rate has proven insufficient to meet the needs of critical sectors like health and education, with unemployment rates surpassing those in India and Bangladesh.
Key Findings
- Women’s Employment: Pakistani women face greater barriers to employment opportunities compared to neighboring countries, further exacerbating the country’s job crisis.
- Population Growth: With an annual population increase of 5 million, Pakistan struggles to meet essential needs in healthcare, education, and other critical areas, contributing to rising poverty.
- Job Demand: The country needs 1.5 million jobs per year to meet employment demands, and substantial reductions in unemployment rates are recommended—6% for youth and 17% for women.
- SPI (Sensitive Price Indicator) inflation rose by 3.97% year-on-year as of January 2, indicating continued cost of living pressures.
- Weekly inflation showed a slight decrease of 0.07%, but prices of essential goods continue to climb. Notably, sugar prices have risen for five consecutive weeks, and costs for chicken, onions, bananas, and ghee have all increased.
Pakistan’s economic challenges underscore the need for systemic reforms to address unemployment, inflation, and the growing population’s demands.
