Unemployment rate fell to 6.3pc in FY2020-21

The government has released unemployment statistics for the fiscal year 2020-21, indicating a decrease in the unemployment rate to 6.3%, down from 6.9% in 2018-19, reported 24NewsHD TV channel.

According to the Pakistan Economic Survey 2023-24. the report further details that the unemployment rate was at 5.8% in 2017-18, showcasing a fluctuating trend over the years.

It is pertinent to mention here that unemployment rate of a country represents the share of people without a job in the country’s labor force, i.e. unemployed persons among those who are able and/or willing to work.

The survey said that the country's labor force is reported to be 71.76 million strong, with 4.551 million individuals currently without employment, while 67.25 million are employed.