October 20, 2021 18:43 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Drug case: Aryan Khan's bail rejected | Crops destroyed due to rains: Delhi announces Rs. 50,000 per hectare of farmland compensation to farmers | Kashmir: 2 militants and a soldier killed in Shopian gunfight | SC asks UP govt to stop dragging its feet in Lakhimpur violence case | Boost to aviation sector will generate tourism, trade and employment : Modi inaugurating Kushinagar Airport
Joblessness spiked in Pakistan in 2018-19: Survey Pakistan Joblessness
Unsplash

Joblessness spiked in Pakistan in 2018-19: Survey

India Blooms News Service | @indiablooms | 19 Sep 2021, 10:58 pm

Islamabad: Pakistan's unemployment rate jumped from 5.8 percent in 2017-18 to 6.9 percent in 2018-19, as per data released by the Pakistan Bureau of Statistics (PBS)recently.

In absolute terms, the number of people actively looking for jobs increased by 0.92 million to 4.71 million in FY19 from 3.79 million the previous year as the number of the country’s total workforce rose to 68.73 million from 65.5 million during the period under review, reports Dawn News.

It also meant that at least 3.23 million people entered the market seeking employment at a time when the national economy’s capacity to create new jobs had just started shrinking and the businesses had started laying off their employees owing to the emerging macroeconomic imbalances, the newspaper reported.

The increase in unemployment was observed in both males and females, with the male unemployment rate rising from 5.1pc to 5.9pc and female unemployment rate jumping from 8.3pc to 10pc.

The disaggregated LFS data shows that the unemployment rate in urban areas stood at 7.9 percent, up from 7.2 percent a year before, Dawn News reported.

But the increase in unemployment was more pronounced in rural areas where it surged to 6.4pc from 5pc, reported the newspaper.