The crisis of rising population and lack of facilities to accommodate them seem harrowing than ever. The working age population in Pakistan is estimated to rise from current 4 million to 5 million by the year 2035. Hence to cope up with the numbers, about 1.3 million jobs need to be created annually.
The stats were revealed by UNDP, United Nations Development Programme’s report that suggested that additional jobs must be created in coming 5 years to effectively accommodate the working age population.
As per ILO*’s statistics, 10.8% of the people between age 15 to 24 are unemployed in Pakistan. What’s more unfortunate is that all countries in the region except Srilanka have better job opportunities to offer.
*ILO: International Labor Organization
The report also revealed the following statistics:
- There are 3.5 million unemployed individuals in the working-age group.
- At the current rate, Pakistan at least needs to create 0.9 jobs every year over next five years.
- 3 million People will be added annually to the working-age class.
The report further stated:
‘’Expanding the formal sector, supporting entrepreneurship, building the human capital of youth and active labour market policies are key instruments to ensure that the required growth is inclusive and sustainable.’’ (Source: Pro Pakistani)
The report also suggested that there needs to be a trade-off between quality and quantity of jobs as right now, quantity is the priority. If more jobs aren’t created, the unemployed individuals can reach to 43 million by the year 2050. It further mentioned that country’s few urban sectors or a specific economic sector cannot create all the jobs by themselves. Hence to overcome the crisis, every sector of economy and city needs to invest equal effort and contribute to employment generation in Pakistan. It can’t be addressed without a collaborative effort by all the elements of the society.