Finance Secretary Chaudhry Imdad Ullah Bosal informed the National Assembly Standing Committee on Finance on Thursday that the unemployment rate in Pakistan has increased to 10.3 percent.
The Secretary of Finance briefed the panel with Finance Minister Muhammad Aurangzeb, stating that the ILO projects the unemployment rate for 2024 to be 8.2 percent, while the World Bank forecasts it at 10.3 percent.
The rate is estimated by the International Monetary Fund (IMF) to be 8%. In the meanwhile, the unemployment rate was last reported by the Pakistan Labor Force Survey to be 6.3% in 2020–21. The secretary told the panel that because of the previous year’s census, a new Pakistan Labor Force Survey has not been carried out.
