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Mayuriyuki
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MayuriyukiSkilled
Asked: April 28, 20242024-04-28T12:41:06+00:00 2024-04-28T12:41:06+00:00In: Business and Entrepreneurship

How to reduce unemployment rate in Pakistan?

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How to reduce unemployment rate in Pakistan?

Most of the time, I arrive at that same repeated question “That what is the best ever method to reduce employment rate in Pakistan? We all must separately arrive at this question which I asked today. And we have to find it’s best answer in no time. Because we all are now standing on the tip turning point where we have to think to step forward for our better future.

pakistan employmentratereduceunemployment
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  1. Amna Tabassum
    Amna Tabassum Explainer
    2024-05-10T19:03:36+00:00Added an answer on May 10, 2024 at 7:03 pm

    To reduce unemployment in Pakistan, a holistic approach is required, addressing both structural and cyclical variables that contribute to unemployment. Here are a few strategies that may help:

    Invest in Education and Skills Development: Improving the quality of education and vocational training programs can better match the workforce’s skills to the demands of employers. This may include upgrading curricula, increasing access to technical and vocational training, and encouraging lifelong learning initiatives.
    Encourage Entrepreneurship and Small Business Development: Creating an atmosphere that promotes entrepreneurship and small business growth can help to create jobs. This involves facilitating access to capital, streamlining rules, providing business support services, and promoting innovation communities.

    Implement policies that support macroeconomic stability, attract investment, and stimulate economic growth. This may involve investing in infrastructure development, assisting vital industries, boosting the business climate, and lowering bureaucratic barriers.
    Encourage the establishment of export-oriented industries, which can create jobs and increase foreign exchange profits. This could include offering incentives to exporters, enhancing trade facilitation, and investing in trade-related infrastructure.
    Invest in Rural Development: Agriculture provides a substantial amount of jobs in Pakistan. Investing in rural development projects, such as increasing agricultural output, expanding rural infrastructure, and supporting agribusiness, can help to create jobs and minimize urban-rural migration.

    Support Labour Market Policies: Effective labour market policies, such as job matching services, career counseling, and salary subsidies for employing jobless workers, can help to reduce frictional unemployment and improve labour market results.
    Address Gender Disparities: Promoting gender equality in the workplace can help women realize their full potential as a vital source of talent and innovation. This can include removing barriers to women’s labor-force participation, providing women with access to education and skills training, and promoting work-life balance.
    Improve Social Safety Nets: Strengthening social safety nets can bring temporary respite to the unemployed while also promoting human capital development. This can include increasing access to unemployment insurance, improving social assistance programs, and implementing targeted poverty-reduction strategies.

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