Image Source: ILO
Youth is the energetic segment of the society which has ability to contribute to the economic growth at best. Data from the Labor Force Survey showed that the youth population aged between 15 to 29 years has been considerably increased, and hence the youth labor force. The statistics of the employed youth in various industries is as follows:
Although agriculture is considered to be the back bone of economy but mere 37.85% youth were employed in the agriculture industry during 2001-2002, 18.54% youth aged between 15-29 years are employed in manufacturing industry where as 43.61% youth are employed in services sector during the same year.
On the other hand statistics showed that during the year 2012-13, more of the youth have been involved in agriculture sector than before. 40.65% youth have been employed in agriculture industry. Manufacturing industry employees 17.95% youth whereas services employees 41.40% youth.
The percentage change of employed youth during 2001-02 and 2012-13 in the various industries showed that the employed youth have been increased in agriculture industry by 2.8%, in manufacturing it has been decreased by 0.59% where as the percentage change in services sector is decreased by 2.21%.
It shows that the services sector in Pakistan is not much contributing to provide employment opportunities for the youth. For that reason it is essential to flourish services sector. Technical and vocational trainings and skills development programs must be enhanced so that more of the youth can be employed keeping in view the worsening situation of the youth labor market. Additionally if the youth is getting more engaged in the agriculture sector, then modern technology as well as essential resources including credit, and training must be provided to the youth.
A little boy carrying waste of bag in the urban areas of Pakistan.
Pakistan has been reported to be a place which is dangerous for human life; it faces range of challenges from lack of the good governance to the inequality of the wealth. Poverty rises as consequences of these challenges, which Pakistan is facing severely as a whole, however according to annual report recently issued by the State Bank of Pakistan, population in the urban areas is poorer than that of rural areas.
This is as a result of the poor economic growth, in addition to the high influx of the population to the urban areas. The distribution of the resources in urban areas is highly skewed than those of the rural areas, in urban areas 60% of the sources are availed by 20% of the population, in contrast this is not the case in rural area. It is worth mentioning here that the traditional perception of the urban and rural divide on the basis of economic prosperity is no more application in recent times.
Since 2008, country is facing an economic growth at a pace as low as 3%, ever since economy has remained sluggish. Average economic growth remained at 3%, contrarily in order to absorb the high influx of youth it must be high enough. On the other hand the wide range of the unemployment has forced the urban population into poverty, additionally savings ratio of economy as a whole is vanished. As reported by the State bank of Pakistan, for the FY-13 the national savings declined to 13.8pc, for sure which is a very bad indicator.
These facts and the statistics are enough to have a true picture of our economy; government is required to take immediate measure which could at least initiate the economic revival. It must take serious measures in order to pursue high economic growth, to reduce poverty and in order to improve human development. For this reasons it needs to consult experts, rather than relying on self-proclaimed economic rainmakers, who have been replicating the past policies. This is how we can End Poverty in Pakistan.