50% people are unemployed in Pakistan: survey

A recent Ipsos survey revealed Pakistan's unemployment rate at 50% and showed a modest decline of 7% compared to the previous year.

More than 1,000 people across Pakistan participated in the second quarter report of Ipsos-Pakistan's 2024 Consumer Confidence Survey.

The survey revealed insights into the unemployment landscape. Compared to public responses last year, the survey reported a 7% decline in the unemployment rate.

The number of people who reported not losing their jobs also increased by only 5% compared to the previous survey. 

According to Ipsos, 50% of respondents said they or someone they knew became unemployed, down from 57% in 2023.

As per survey findings, the unemployment rate dipped by 13%. In September 2023, 63% of people reported being unemployed.

The survey also found a 10% decrease in people who were insecure about their jobs. In 2023, a staggering 95% of people expressed fear of losing their jobs, while that number dropped to 85% in 2024.

The poll also recorded an increase in confidence regarding employment from just 5% to 15%.

Pakistan's economic woes have worsened as the country grapples with the financial crisis. The government's recent hikes in energy and fuel prices, after its agreement with the IMF, have exacerbated the situation.

Another recent survey conducted by Ipsos revealed that only 16 percent Pakistanis are satisfied with the economic condition of the country under Prime Minister Shehbaz Sharif's government.

The report claimed that the number of Pakistanis who expressed confidence in the current economic condition increased by 12 percent to 16 percent.