It has been reported that the number of unemployed people in Pakistan has been estimated to reach 6.65 million during the fiscal year 2020-21, compared to 5.80 million of the outgoing financial year of 2019-20.
According to the annual plan 2020-21 formed by the PTI-led federal government, Pakistan has the 9th largest labor force in the world which is increasing every year.
As per the details, the number of unemployed workers in the country will reach 62.91 million in 2020-21 from 62.18 million in the financial year 2019-20. According to the details of the Labour Force Survey 2017-18, the unemployment rate for the upcoming financial year 2020-21 has been estimated at 9.56 percent.
Pakistan is experiencing the phenomenon of unemployed educated people, particularly jobless graduates. The unemployment rate among the degree-holders in the country is almost three times higher than the other overall unemployed people.
The reason given for this higher number of the unemployed people is a mismatch between the education being imparted and the need of the economy to sufficiently absorb fresh graduates.