Almost 4.5 million young Pakistanis are unemployed: survey

As many as 4.5 million young people in the country are unemployed, according to the Economic Survey of Pakistan 2023-2024.

The survey revealed that the highest unemployment rate is among youth aged 15 to 24 years, with 11.1 percent unable to find work.

The figures shown in the survey were quoted from The Labour Force Survey 2020-2021, which highlighted the apathetic behaviour of the governments towards this critical issue.

The survey showed that the total labour force in Pakistan is 71.8 million, with 48.5 million from rural areas and 23.3 million from urban areas. 

However, only 67.3 million are employed, leaving 4.5 million people without jobs.

The unemployment rate among women is higher, with 14.4 percent unable to find work, compared to 10 percent of men. 

The 25-34 age group has the second-highest unemployment rate, with 7.3 percent unable to find employment.

The survey warned that the excess labour force can lead to frustration among young people, limiting their learning opportunities and hindering their future prospects.

The survey also revealed a significant shift in the employment structure in Pakistan over the decades. 

The technological progress is causing a decline in agricultural employment and a rise in industrial and service sector jobs. 

The service sector has emerged as the largest emerging sector of the economy.

The economic survey provides a comprehensive overview of the country's economic performance over the past year and outlines the challenges and opportunities that lie ahead.

Prime Minister Shehbaz Sharif-led government hopes to use the survey's findings to inform its economic policies and strategies in the coming year.

The federal government will unveil the Rs18.5 trillion budget for fiscal year 2024-25 on Wednesday (today) in the National Assembly.