Unemployment describes the state of a worker who is able and willing to take work but cannot find it. A high unemployment rate generally indicates recession in economy with few job opportunities.
Our country is facing the problem of unemployment. It has wasted our resources and people’s incomes are depressed. The socio economics system of Pakistan has failed to provide employment to the increasing labour force. Rate of unemployment is greater in rural areas as compared to urban areas.
There are many reasons for unemployment. Voluntary unemployment arises when educated people choose not to work on the going wage rate. Involuntary unemployment arises due to inflexibility of wages in the face of economic shocks. Wrong government policies also cause the unemployment. The increase in population is another cause of unemployment. The resources of the country are limited but demand is higher than supply. Karachi is the biggest industrial base of Pakistan, but investors are hesitant to invest there due to no rule of law. Our educational system is also responsible for increasing unemployment rate among the educated youth.
There are some solutions available though. The liberal economic and fiscal policies of the government can reduce unemployment rate. Government should seriously announce an economic recovery package to change industrial production and boost exports. New industrial zones throughout the country would also generate new opportunities for employment. Government should announce new packages for agriculture sector.
ALI RAZA
Lahore
