Pakistan has a population of approximately 220 million, comprising 64% youth. But unfortunately we could not utilize this energetic section of society. To worsen the situation, the degree holders trudge from door to door to find suitable employment. Hence, the unemployment rate has swollen to 6.65 million in fiscal year 2020-2021.These swollen numbers are marking a huge storm for youth, as their labor may go unrewarded and they might end up being in a permanent condition in the cage of unemployment or they may fall victim to labor exploitation by companies. These numbers have adopted the worst shape, as in a survey by the global economy platform; it came to light that in 1991 there was only one person unemployed out of 10, whereas in 2019 the situation is gruesome that 9 out of 10 are unemployed. Now, as per definition, unemployed persons are those who are willing and able to work, but cannot find any opportunity to work.
In terms of education, there are around 180+ public and private universities in Pakistan, from which around 4, 45000 students are graduated every year, these graduates then come in a race to win their bread and butter. As Pakistan’s economy is basically an agriculture oriented economy, with little space for industrial models and other sectors. These youth find it difficult to get jobs in line with their specialization; hence most of them end up with petty jobs, just to maintain their bills. Not only this, due to shrinking economy, no job market and any social safety net, they find themselves trapped in labor exploitations. Having got depressed, some resort to extreme steps and take their lives. While others, out of despondency, fall victim to criminal hands.
There are various causes of this systematic unemployment in Pakistan. It is obvious that the government has to bear the responsibility of employment but unfortunately, due to various aspects, the government fails to meet the target. One of the major reasons is, our country has industrialized at a very slow pace. Pakistan lags in industrializing most of the sectors which could have accommodated a huge number of youth, but we are far behind in the race. In the world, several countries have embraced industrialization and IT sectors, and have generated thousands of jobs which have created a blanket against poverty. Pakistan still lacks a clear cut policy for the IT sector.
In addition to this, we have failed to carve our population into a useful and work oriented force. As world renowned Social Scientist, Yuval Noah Harrari has said in one of his speeches that “the problem that we are going to face in future is not unemployment, in fact, we are going to face a much greater problem that is Irrelevance of our workforce”. Despite various efforts by the government to develop skill oriented education, Pakistan still fails to devise any strategy to derive a solid platform.
For youth, who are worried about their feature, there is a silver lining in the horizon. Today, the world is moving to a smart economy of entrepreneur models. Youth should start any small or medium enterprise with the help of some microfinance institution. India’s 25 years old Ritesh Agarwal is a model to follow how a young guy became the youngest billionaire. For successful entrepreneurial ventures, youth have to think out of the box. With the passage of time, availing loans offered by various government and non-government has become easier. If our youth is educated and put enough confidence to avail these entrepreneurial experiences, they may not only benefit from this but they can also create opportunities for others. In addition to this, today is the era and a dawn of technology, a little effort and ideas may turn your venture into a profit making entity.