This report focuses on one of the central problem of our country unemployment. When unemployment is high, resources are wasted and people's incomes are depressed; during such periods, economics distress also spills over to affect people's emotions and family lives. The socio economics system of Pakistan and institutions has failed to provide employment to the increasing labor force. Furthermore, our report consists of effect of unemployment on economic growth also its causes and major factors of unemployment. We have conducted a survey to know about the views of different people about unemployment.
Subject of our report is unemployment. Purpose of selecting this topic is to give information to our fellow friends about one of the major problem which Pakistan is facing these days. In this report we tried our best to put a spot light on its major causes and its effects. The unemployment rate (10 years and over) in Pakistan was last reported at 5.7 percent in the second quarter of 2011. Historically, from 1990 until 2011, Pakistan Unemployment Rate averaged 5.8% reaching an all-time high of 7.8% in June of 2002 and a record low of 3.13% in December of 1990. The unemployment rate can be defined as the number of people actively looking for a job as a percentage of the labor force. Unemployment is a key measure of economic health. It is a major factor in determining how healthy an economy is; if the economy maximized efficiency, everyone would be employed at some wage. An individual unemployed is both unproductive and a drain on society’s resources. However, while unemployment seems a basic statistic the number without jobs divided by those with jobs the issue is anything but unemployment is a powerful statistic that shapes government policy and personal decisions.
Questionnaire will be used for survey and collecting quantitative data. We had interviewed with those peoples who are unemployed & also taken their ideas about causes of unemployment. Internet is also a source for data collection.
Following are the limitations that we faces while conducting our research: •Time constraint
•Non serious attitude of people while filling questioner
Facts & Figures
Year Unemployment Rate
Unemployment occurs when a person who is actively searching for employment is unable to find work. Unemployment is often used as a measure of the health of the economy. The most frequently cited measure of unemployment is the unemployment rate. This is the number of unemployed persons divided by the number of people in the labor force. Types of unemployment:
—This type of unemployment happens because of ‘normal’ workings of an economy. When a person quits finding a better job or when they’re fired and look for a more suitable job, this is called frictional unemployment. It can also happen if consumers shift their demand towards a new product, thus eliminating the need for so many workers in a field. The same is true if technology improves and makes the skills of some workers unnecessary. •Structural Unemployment:
—As it sounds, this type is caused by significant changes in the structure of an industry. Substantial changes in industry, location, or even seasonal changes can cause structural unemployment. Generally these changes force workers out of a job because the cost to relocate or adjust is simply too much. •Cyclical Unemployment:
—Downturns in the economy generally account for cyclical unemployment. When the...