As of 2013, Pakistan had an unemployment rate of 5.17%. PHOTO: ILO.ORG
For 2014, ILO claimed unemployment rate will likely rise to 5.29%.
The report stated that in the fifth year of the global recession, growth across the world decelerated and unemployment started to increase again, leaving an accumulated total of some 197 million people without a job in 2012.
ILO predicts only a slight increase in the unemployment rates of Pakistan. P = projected rates. PHOTO: ILO.ORG
Generally in South Asia, labour markets continued to suffer from high rates of informal, agricultural employment where jobs are poorly paid and unprotected. Domestic problems and political unrest in Pakistan dampened growth, whereas GDP grew in India, Sri Lanka and Bangladesh.
India's unemployment report has also been predicted to stay constant at 3.8%. Compared to 2012's numbers (5.04% for Pakistan and 3.58% for India), unemployment has increased in both countries.
In South-East Asia and the Pacific, employment expanded by 1.6% in 2013 and is projected to outpace growth in the working age population in the coming years.
Productivity
A separate World of Work report by the ILO stated that Pakistan was one of the countries in which the market situation and labour quality actually improved as compared to countries like India and Mexico.
Pakistan's labour productivity grew by 0.94% in 2013. PHOTO: ILO.ORG
Pakistan made it to the lower-middle-economies list, with about 55% of its population earning below $2, 43% earning between $2 and $6 and the remaining earning between $6 and $20 per day.
PHOTO: ILO.ORG
Pakistan's uncertain future
Pakistan's future also relies partly on the overall scenario in the rest of South Asia where, because of the global slowdown, creating jobs should be difficult in 2014. The persistent uncertainty and political unrest implies that Pakistan's economy may lag behind the progress-oriented countries in South Asia.
India is in the midst of tackling political hurdles and wavering investor sentiment in light of a high current and fiscal deficit. Bangladesh, on the other hand, has been relatively successful in creating jobs, particularly in the garments sector, which helped a large number of females secure jobs.
COMMENTS (16)
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Actually our government is not use all the the sources available in Pakistan, due to this unemployment rate is going to increase.
Its all the crisis of capitalism.
Believe me guys,,,having researched it by an international organisation doesn't means they are right , believe me things will get better in 2014 & on-wards Insh Allah .the article is more related to labor class ,.(not a PMLN supporter)
Qingqi rickshaw will be banned in great Punajb so unemployment rate will increase.
Bravo. As the population grows and people still care nothing for birth control........
@Ali Zaidi: Add to it corruption, which includes tax evasion, loan defaulting, squirrelling of development and aid funds, forgery, fraud, and whatever else there is that is considered illegal. Salams
@Indian: The reality must be accepted no matter where it comes.
As usual ET take pleasure in putting bad news on the first page.
Ignores any impact of American pull out of Afghanistan and potential impact on relations with Pakistan - namely if the American's are truly upset they may switch their textile orders over to India, Bangladesh and China who would be happy to have the business. The loss of your largest and highest margin customer would surely have an adverse impact on employment.
@Ch. Allah Daad: No, the 9 men puffing hookah in Interior Sindh on a "char-pai" while 2 women work on the fields are also considered "employed" in official statistics by Govt of Pakistan.
Still again prove that bangladesh is much ahead than pakistan.Second super power in south asia.
This is another area where musharraf government's performance was way better than these useless leaders.
@Ch. Allah Daad: 90% of the [more than 20%] are well employed with extortion, bhatta, mafia, kidnapping. So the 5% seems realistic.