When someone is willing and able to work, but they are unable to find job, they are said to be unemployed.
“Capitalism uses unemployment as a means of encouraging people to start a garden.”
It is regrettable to report that a large number of Pakistanis are unemployed at the moment. Even some really talented people—a small number of whom have a strong education and meet all the standards for a given job—were unable to obtain employment due to unemployment.
It is possible to state that one in ten people in Pakistan are unemployed due to the country’s 6.5% growth in unemployment. According to statistics, the jobless rate rose from 4.3 percent to 5 percent in rural areas and from 2 percent to 10.1 percent in metropolitan areas. Pakistan had an unemployment rate of roughly 4.45 percent in 2020, a slight decline from 4.65 percent the year before. By the end of 2021, the unemployment rate is predicted by analysts and the Trading Economics Global Macro Model to be 5.0 percent.
Official data indicates that the informal sector, where three out of every four individuals lost their jobs between April and July of last year, has all but disappeared due to the economy’s anticipated expansion. A study titled “Special Survey for Evaluating Socioeconomic Impact of COVID-19 on Wellbeing of People” claims that in the April–June 2020 quarter, Pakistan’s labour market contracted by 13 percent, employing 20.7 million people. The majority of those affected were young, low-skilled workers.
The unemployed might always pose a threat to the security of a country. The nation’s unemployed youth are becoming irate and becoming easy targets for violence, thievery, drug addiction, and other social ills. They are being used by terrorists, drug dealers, and smugglers in their malicious activities.
According to the figures, 136 people committed suicide just because they were unemployed, a sign of how miserable people are becoming. The percentage of jobless people in the labour force is known as the unemployment rate. Families’ disposable income is severely impacted by unemployment, which also lowers employee confidence, reduces purchasing power, and reduces economic productivity.
The three main factors contributing to unemployment are financial, social, and economic. Economic causes include the adoption of cutting-edge technology, agricultural mechanization, slow industrial development rate, and decline in overseas employment. All of these issues require careful consideration.
The second category of causes is sociological, and it consists of things like a high population density, a high rate of illiteracy, a lack of technical education, favoritism and nepotism, reemployment, political unrest, movement from rural to urban areas, and Afghan refugees. The absence of credit facilities and a lack of capital comprise the third category of factors, which are financial in nature.
Read more: Analysis of AI Advantages and Threats to Human Jobs
By following particular procedures, unemployment can be transformed into work. The government must prepare ahead and act responsibly. Education systems ought to be equitable for all students, well-managed, and developed. It is imperative that the government establishes reputable technical and training institutions to provide skill-building initiatives. Motivational programmer, such as those against drug addiction and homelessness, should be implemented in order to uplift the youth. Programmer for mental health support should also exist.
In any economy, unemployment is a serious problem. It has negative effects on the jobless since they have less opportunities to find new employment and are unemployed, and it makes those who are employed feel less confident about their ability to hold their jobs in the future. The government’s responsibility is to closely oversee the application of the legislation. The nation’s citizens ought to support the government in its battle against unemployment. As a result, each and every citizen has a responsibility to uphold discipline and to abide by the law. Every person must contribute to the government’s success in order for our nation to succeed.