Unemployment in Pakistan and the way out of it

It has got worse, and even leads to suicides

UNEMPLOYMENT is a state in which workers are capable of working and eager to work but don’t get employment. orsan Scott Card said, “Unemployment is capitalism’s way of getting you to plant a garden.” Currently, looking at the condition of Pakistan, it is sad to say that many people are unemployed. even some people are highly capable and a few among them have good education and fulfil all the requirements of a particular job, but couldn’t get one just because of unemployment.

The Pakistani rate of unemployment increased by 6.5 percent, and we can say that one out of every 10 persons in the country are experiencing unemployment. The statisticss from the urban areas for the unemployment rate were taken and it increased by 2 percent to 10.1 percent and in rural areas it increased from 4.3 percent to 5 percent. In the year 2020, when the unemployment rate in Pakistan was approximately 4.45 percent, a minor decrease from 4.65 percent the previous year. According to the Trading economics Global Macro Model and Analysts expectations, the unemployment rate is likely to reach 5.0 percent by the end of 2021. According to official information, the predicted growth of the economy has almost eliminated the informal sector in which three of every four people lost their livelihoods between April and July the previous year. According to a report, “Special Survey for evaluating Socioeconomic Impact of COVID-19 on Wellbeing of People”, the labour market of Pakistan dropped by 13 percent in the April–june quarter of 2020, leaving 20.7 million people out of work and due to that those workers, who mostly affected by this were the low-skilled young workers.

The jobless people can always be dangerous to a nation's well-being. Those youth of the country who are unemployed are getting frustrated and falling a prey to drug addiction, theft, violence and many other social harms. Terrorists, drug traffickers and smugglers are engaging them in evil activities.

The people are getting so much depressed that according to the statistics, 136 people committed suicide just because they were unemployed. The unemployment rate is the ratio of unemployed individuals in the labour force. Unemployment negatively impacts the disposable income of families, diminishes employee self-confidence, erodes purchasing power and lessens an economy’s output.

There are three major causes of unemployment, economic causes, social causes and financial causes. The use of advanced technology, mechanization of agriculture, low industrial growth rate and reduction in foreign employment all comes under economic causes and need great attention. The second are social causes which include: high population rate, widespread illiteracy, lack of technical education, nepotism and favouritism, re-employment, political instability, ruralurban migration and Afghan refugees. The third set are financial causes which include: deficiency of capital and lack of credit facilities.

All these causes need to be addressed on time. Those factors which give heat to the unemployment are poor governance, political instability and corruption. First attention should be given to the factors of unemployment, because if the base or root is not strong then there is no use of putting efforts to get fruits. For better fruit strong roots are required. Therefore, we need to focus on our factors to make a better and more fruitful society. The law is not considered a supreme or respectable aspect of our society. Due to lack of obeying law, everyone considers himself superior and does whatever he wants. The violation of law makes the system weak, due to which people keep away from investing or creating industries in the country.

Unemployment can be converted into employment by taking certain steps. The government needs to act sensibly and do proper planning. education systems need to be improved and well managed and should be equal for everyone. The government needs to establish well recognized technical and training institutions, where the skills programmes are offered. To encourage the youth, motivational programmes should be done, such as programmes against drug addiction and homeless individuals. Also, there should be support programmes for mental issues.

The concept of discrimination should be ended from society to create a better atmosphere. The fiscal and monetary measures should be taken in a financial crisis situation. It is the job of the government to give many facilities and benefits to the investors so that they invest more in our country

Such an environment should be created by the government which makes the industrialist set up more and more industries. There are numerous such people of very creative mindset but who are facing high interest rates on personal loans in Pakistan. The government needs to start a scheme to encourage and promote them. The businessmen should be encouraged to start their own business or continue with their family businesses. Unemployment is a significant issue for any economy. It creates adverse impacts on the unemployed as they are jobless and suffer from worse chances to find a new job, and those who are employed feel less secure about keeping their jobs in future. It is the job of the government to strictly monitor the implementation of laws. The people of the country should help the government to fight against unemployment. Therefore, every citizen should follow the rules and regulations in their true spirit and should maintain discipline. To make our country successful, along with the government, every individual should do their part of the job.

Such an environment should be created by the government which makes the industrialist set up more and more industries. There are numerous such people of very creative mindset but who are facing high interest rates on personal loans in Pakistan. The government needs to start a scheme to encourage and promote them. The businessmen should be encouraged to start their own business or continue with their family businesses