Economic Crisis Deepens as Half of the Workforce Faces Job Insecurity, with Youth and Women Hit the Hardest
Islamabad, Pakistan — A shocking new survey reveals that 50% of Pakistan’s working-age population is unemployed, exacerbating an already critical economic situation. The survey, conducted by the Pakistan Bureau of Statistics, highlights the severe job insecurity faced by millions across the country.
According to the findings, approximately half of the country’s workforce is either unemployed or underemployed, with many struggling to find stable, well-paying jobs. This figure is especially alarming among the youth, where unemployment rates exceed 70% in the 18-30 age group. The situation is further complicated by the country’s struggling economy, high inflation, and political instability, which have led to job cuts across multiple sectors.
Key Findings:
- Youth Unemployment: Over 70% of young adults aged 18-30 are unemployed or involved in informal, low-paying work.
- Gender Disparities: Women face significantly higher unemployment rates compared to men, with only 15% of women in the workforce holding formal employment.
- Economic Pressures: Inflation and the aftermath of the COVID-19 pandemic are cited as major contributors to the ongoing job crisis.
Experts suggest that a lack of job opportunities, combined with an insufficient skills gap in the labor market, has left many individuals unable to find suitable employment. Dr. Tariq Mahmood, an economist at Lahore University of Management Sciences (LUMS), explains, “The combination of high inflation and a stagnating economy has caused businesses to scale back operations, reducing the number of jobs available. On top of that, the skills gap among job seekers is widening, further compounding the issue.”
Gender and Regional Disparities:
The survey also underscores significant gender disparities in the job market. Only 15% of women who are part of the workforce hold formal jobs, while many others are relegated to informal or domestic work. Rural areas are particularly hard-hit, with fewer job opportunities and limited access to education and skills training.
Women in urban centers, though more likely to be employed in formal sectors, still face challenges such as lower wages and fewer career advancement opportunities.
Government Response and Challenges:
In response to the alarming findings, the Pakistani government has promised to boost employment through initiatives such as infrastructure projects, vocational training, and financial aid for small businesses. However, experts and activists argue that these efforts are insufficient and that more systemic changes are needed to create sustainable, long-term employment opportunities.
Ayesha Rizvi, a labor rights activist, criticized the government’s approach, stating, “We need policies that focus on creating jobs that are sustainable, and that meet the demands of a rapidly changing job market. Vocational training and short-term projects are important, but they cannot solve the larger structural issues that underpin Pakistan’s unemployment crisis.”
The Road Ahead:
As the unemployment crisis deepens, there is growing pressure on the government to implement more comprehensive reforms. These reforms must include investing in education, improving access to skill development programs, and fostering a business environment that encourages job creation.
While the survey paints a grim picture of Pakistan’s job market, it also highlights the urgent need for collaboration between the public and private sectors to address the root causes of high unemployment. The coming months may determine whether Pakistan can overcome its economic challenges and provide a brighter future for its workforce.
