Employment situation


Over the past three years, the government of Mr. Nawaz Sharif has promoted fiscal reform as the top priority for sustainable growth, adopting plans to expand the tax base, strengthen tax administration, and formulate priority spending plans, etc., and achieve substantive progress in fiscal reforms. In 2015/16, the government deficit will be reduced to 4.338%, and will drop to 4.276% again in 2016/17. The IMF forecasts that it will decrease to 3.796% again in 2017/18. The increase in the proportion of tax revenue in GDP in the future will help increase financial resources for public investment and construction, promote social and economic development, improve industrial competitiveness, and develop a diversified economy.
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 Employment situation
 Pakistan has a large population, with a working population of 62.3% of the total population. The country’s average age is less than 24 years old. With abundant human resources and abundant labor force and market potential, the World Bank’s data literacy rate is about 56.98%. Two-fifths of the employed population is engaged in agriculture. 
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Domestic enterprises have to place more resources on the management and education and training of employing employees. Professionals with professional knowledge in the field of engineering and science go abroad to work. Due to domestic factors such as limited investment in human capital and barriers for women entering the labor market, the potential “population dividend” in Pakistan has not been fully realized in the medium and long term.
 Due to poor economic growth over the past years, Pakistan cannot absorb the rapidly increasing labor force. High inflation has reduced household income, and the gap between the rich and the poor has further widened. Poor economic growth leads to high unemployment, especially when young people are unemployed. The unemployment rate in 2013/14 was 6.0%. However, Underemployment is prevalent. Many laborers have jobs, but they have very short working hours or low working skill thresholds, resulting in low income. On the other hand, many Pakistani people cannot absorb large numbers of young people even if they go overseas for employment. Employment population. The IMF estimates the unemployment rate for 2017/18 to be 6.087%.


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