The Youth Employment Crises in Pakistan

October 13, 2012 | By More

Today the world faces the challenge of creating job opportunities for the growing youth population. 75 million young people are jobless, four million more than in 2007. Of those who are working, more than 200 million earn less than $2 a day, living mostly in developing countries. The International Labour Organization (ILO) in its annual report titled Global Employment trends 2012 says more than 400 million new jobs will be needed over next decade to absorb the estimated 40 million growth of the labour force each year.

The ILO in its report titled Global Employment Outlook, September 2012 which is an update of its earlier report Global Employment Trends shows that jobless rates among young people will get even worse globally as the effects of the euro crises spreads beyond Europe and slows down economies from East Asia to Latin America. These young people are not expected to see any improvement in their situation.

The report further says the difficulties of young people to find gainful employment reflects the overall weak state of labour markets around the world. Global output has grown weakly over the past six months and is not expected to accelerate in the near future. As noted in the WTO’s World Trade Report 2102, global trade has also decelerated sharply as global demand especially in advanced economies has faltered. This has created global spillovers, leading to a slowdown of activity in emerging economies in East and South Asia and Latin America.

In Pakistan the share of youth in the total labour force rising. Young population is estimated at 54 million, of which 23.8 million are in the labour force. As almost two-third of the population is blow the age of 30, Pakistan is experiencing a young bulge which will change the composition of future labour force.

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Posted by: Majid Shabbir
Moderator: Business Support Organization Forum

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Category: Entrepreneurship

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