Pakistan Has Well-Educated Workforce, But Needs More Jobs: World Bank
A study conducted by the World Bank has concluded that Pakistan’s economy needed to create more jobs by taking benefit of its well-educated young labour force.
The study, titled ‘Labour Market Analysis’, revealed that though there was an excess supply of highly educated workers, certain industries such as information technology lacked workers with specialised skills.
The study has highlighted the fact that there were insufficient jobs which required skills obtained by bachelor and graduate degree holders. According to the study, labour market tightness at the post-secondary level was low.
The study has also revealed that there existed more competition for entry-level jobs rather than mid-career professions because a new batch of fresh graduates entered the market each year.
Though the rate of unemployment in Pakistan is low, at six percent, the quality of employment is not very high.
According to a report in Dawn, three quarters of the employed people work in informal sectors, while 36 percent of them are self-employed. Moreover, only 12 percent of the employed are wage workers with a written contract.
In October, Federal Minister for Science and Technology Fawad Chaudhry said that it was not the government’s responsibility to provide jobs to people, and that people seeking government jobs were ‘foolish’ and ‘lazy’.