It is an unavoidable reality that unemployment has risen to the top of Pakistan’s priority list. This is rapidly expanding not just in rural Pakistan, but also in metropolitan regions.Every year, hundreds of young graduates from Pakistan’s finest institutions struggle to find good jobs after finishing their degrees. It is true that we hear from friends and family who are unable to find work even after graduating.
According to the Pakistan Bureau of Statistics, the unemployment rate has risen to 5.1 percent to 5.7 percent and is continuing rising. This is a really concerning scenario, particularly for young people who want to find a job as soon as they finish their studies.
Pakistan’s population growth rate is regarded as one of the fastest in the world. Rapid population increase is also a key contributor to Pakistan’s rising unemployment rate.
There are numerous causes for population increase, including a lack of family planning knowledge, a lack of women’s empowerment, poverty, a preference for having more boys, and a variety of other limitations. These are the true risks of population expansion, and as a result, a major source of unemployment.
A good economic growth rate and low unemployment can only assist to keep inflation at a modest level. People’s purchasing power is reduced as the general price level rises. Monetary policy can be employed to keep the general price level stable. The government should also take steps to boost employment so that consumers’ costs of living do not rise, resulting in a beneficial shift in the economy and no increase in inflation.