Unemployment rate in Pakistan decreased to 4.5 percent in 2019 from 5.5 percent in 2018

[inspirierene]

According to Focus Economics, the unemployment rate is defined as the percentage of unemployed workers in the total labor force. Workers are considered unemployed if they currently do not work, even though they are able and willing to do so. The total labor force consists of all employed and unemployed people within an economy.

The unemployment rate of any country depends on its economic conditions. The better the economy, the less is the unemployment rate and vice versa. Investopedia explains that when the economy of a country is in poor shape and jobs are scarce, the unemployment rate can be expected to rise. When the economy is growing at a healthy rate and jobs are relatively plentiful, it can be expected to fall.

Trading Economics demonstrates that the unemployment Rate in Pakistan averaged 5.44 percent from 1985 until 2019, reaching an all-time high of 7.8% in 2002 and a record low of 3.1% in 1987.

The following chart shows the unemployment rate in Pakistan over the last 10 years.

Currently, the unemployment rate of Pakistan is 4.5% that was 5.5% in 2018 which is one of the factors that shows the growth in Pakistan’s economy over the past two years.

Here’s the comparison of the unemployment rate of some developed and developing countries with that of Pakistan. (Source: IMF Mapper)

The facts and stats-based worldview helps us to fight against the devastating ignorance. A little research can help us understand the things more clearly and believe that things are much better than we think.

https://inspirierene.com/the-unemployment-rate-in-pakistan/

 

[Jungibaaz]

I seriously doubt the story being told through these stats here. It seems like something changed.

Usually you do not see sharp declines in unemployment rate during economic downturns and financial crises. Certainly this supposed decrease shouldn't be taken at face value, maybe they changed the index or methodology in 2018. Even if we factor a higher rate of growth during 2015-2018, it still wouldn't explain such a sharp unemployment decline in 2018-19.

 

[AZ1]

People are going towards business model i guess.

 

[nahtanbob]

with the coronavirus we are in 2020

 

[Hakikat ve Hikmet]

If true, the % of undocumented economy in Pak must be higher than reported!! Some analysts have put it as 80% of the total economy...

 

[volatile]

 

[El Sidd]

ye kis level ka propaganda hai?

General Bakshi level moun ka fire

 

[Yaseen1]

these figures not seem realistic as after covid19 many have lost jobs and are currently unemployed,whole world employment rate has fallen but our has increased which seems fake news and will further damage credibility of our statistics

 

[AZ1]

Chalo ais anchor ki wife tou pmln ki seat lai kar bethi hai chalta rahayga ais ka hesab kitab

 

[ejaz007]

Why are their figures different then the one posted above:

Unemployment rate in Pakistan 2019
Published by H. Plecher, Jul 10, 2020
In 2019, the unemployment rate in Pakistan was at approximately 4.45 percent, a slight increase from 4.08 percent the previous year.

Unemployment as an economic key indicator

The unemployment rate of a country represents the share of people without a job in the country’s labor force, i.e. unemployed persons among those who are able and/or willing to work. Among other factors, it takes population growth into account, and thus increases in the labor force, as well as the age of the population. A high unemployment rate usually indicates economic troubles, with a popular example being Greece, where the unemployment rate skyrocketed from 7.76 percent in 2008 to 27.5 percent as a result of the Great Recession.

From plowshares to keyboards

While Pakistan’s unemployment slumped below the one percent mark in 2010, it is now on the rise again and currently standing at just over four percent. Traditionally, most Pakistanis work in agriculture however, the lion’s share of the country’s GDP is generated by services, like tourism, banking, and IT. While agriculture is still important for Pakistan’s economy, the services sector is gaining ground in the country, and more and more people are moving to urban areas from the countryside to find jobs in the cities.

https://www.statista.com/statistics...unemployment rate of a,and/or willing to work.

 

[I S I]

You thought tabdeeli would be positive?

 

[SD 10]

If true, the % of undocumented economy in Pak must be higher than reported!! Some analysts have put it as 80% of the total economy...

close to 50%.

simple: a lot more startups , it stuff is coming hopefully govt won`t messed it up !!!

 

[Enigma SIG]

Graph shows how PML-N screwed up in their term.

 

[Jungibaaz]

Why are their figures different then the one posted above:

View attachment 655679

Unemployment rate in Pakistan 2019
Published by H. Plecher, Jul 10, 2020
In 2019, the unemployment rate in Pakistan was at approximately 4.45 percent, a slight increase from 4.08 percent the previous year.

Unemployment as an economic key indicator

The unemployment rate of a country represents the share of people without a job in the country’s labor force, i.e. unemployed persons among those who are able and/or willing to work. Among other factors, it takes population growth into account, and thus increases in the labor force, as well as the age of the population. A high unemployment rate usually indicates economic troubles, with a popular example being Greece, where the unemployment rate skyrocketed from 7.76 percent in 2008 to 27.5 percent as a result of the Great Recession.

From plowshares to keyboards

While Pakistan’s unemployment slumped below the one percent mark in 2010, it is now on the rise again and currently standing at just over four percent. Traditionally, most Pakistanis work in agriculture however, the lion’s share of the country’s GDP is generated by services, like tourism, banking, and IT. While agriculture is still important for Pakistan’s economy, the services sector is gaining ground in the country, and more and more people are moving to urban areas from the countryside to find jobs in the cities.

https://www.statista.com/statistics/383735/unemployment-rate-in-pakistan/#:~:text=In 2019, the unemployment rate,4.08 percent the previous year.&text=The unemployment rate of a,and/or willing to work.

These figures more or less match the World Bank ILO estimates I saw a few months ago. It makes sense for the unemployment rate to have crept up in 2019 give the macroeconomic conditions. But those earlier very low rates also look false.

OP’s figures are there on trading economics but like I said, the picture they’ve created is false, perhaps they’re resulting from change of index and source of estimate between FY18 and 19.

 

[ejaz007]

IMF Data:

https://www.imf.org/external/datamapper/LUR@WEO/PAK