Fiscal Year 2015-16: Welcome To Unemployment

Fiscal Year 2015-16: Welcome To Unemployment|

Fiscal Year 2015-16: Welcome To Unemployment| PakistanTribe.comISLAMABAD – The unemployment rate in Pakistan has risen to 8.3% during fiscal year 2015. The analysis is derived from the macroeconomic data released by the government.

Report reveals that since Prime Minister Nawaz Sharif joined the office the numbers have elevated to 1.5 million.

Last time, in Musharraf’s earlier time the unemployment rate was this much high, in 2002.

During Zardari’s tenure the unemployment rate had risen by only 1% from 5.2% in 2008 to 6.2% in 2013.

But during Nawaz’s tenure, the rates have already been risen by more than twice.

The new official approximations are estimated by Pakistan Bureau of Statistics, were shared with the National Economic Council.

During National Executive Committee (NEC) meeting PM asked his cabinet ministers to make strategies for tackling the issue of unemployment.

Planning Minister Ashan Iqbal said in the NEC that unemployment will be one of the biggest concerns in the years ahead.

A major reason of unemployment in Pakistan is the fact that economy is not getting prosperous to the extent that it would get able to create more jobs.

The ranks of the unemployed are expected to rise by another 400,000 people in fiscal year 2015-16.

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