Complete facts and figures of the Unemployment Rate in Pakistan for the year 2013-2014. Unemployment means that the number of people who at the present time are looking for jobs or are being considered as jobless divided by the total labor force. The unemployment has the direct impact on the economy of a nation. Pakistan is one of those countries which have the highest unemployment rate in the world. There are several reasons which contribute in the unemployment of any country which includes the political instability, lack of skilled labor, inflation or even other factors like terrorism and natural disasters.
Unemployment Rate in Pakistan 2013-14
If we give a look at the recent years in which the unemployment rate of Pakistan was 5.5 in 2010 and 5.6 in 2011 as per the claim of the officials but in 2013-2014 the conditions seems to be worse than the previous years because the political instability and the lack of foreign investments in the country have reduced the jobs and vacancies for the people and excessive universities which are producing thousands of students and leaving them to penetrate in the market has also affected the situation. For the year 2013-14 it is being expected as the exact unemployment rate for the year 2012 is not clear but economist and the financial analyst are predicting that for the year 2013-14 the unemployment rate of Pakistan will touch up to 6.0, as it is more than the last 2 years. So these are no good signs for the economy of the country as the burden of unemployed people is hard for a developing country to bear as less people will contribute in to the national GDP of the state.
One of the key issues which are affecting the economy of our country adversely is the terrorism and the lack of international investments. In fact the terrorism is the main cause which has destructed the economy as due to fear of terrorism the international investors are avoiding any further investment in Pakistan even they are pulling those previous investments back, as Pakistan is a country who is fighting against terrorism so paying the cost for it too. The national industries are also in horrible condition as the energy crisis has also forced thousands of industries to shut down and the one who are still fighting against it are forced for downsizing and again it leaves thousands of people either unemployed or forced to leave their jobs. So unemployment is one of the biggest curse on the economy of our nation and to save our future and to make our economy string the initial and the most crucial thing is to eliminate the unemployment and take steps towards creating jobs for the qualified and unqualified people of our country.