unemployment - Pakistan Unemployment Title: Asian Country...

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Pakistan – Unemployment Title: Asian Country chosen- Pakistan Economic concern: Unemployment Name: Course Title: Due Date:
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Economies with high levels of unemployment are stalled economies. Nowadays, a growing problem of almost every nation is high rates of unemployment. Similarly, Pakistan being a developing country faces the same problem and the severity of this economic concern is causing many problems for the economy. Furthermore, Pakistan has reached a very critical stage and joblessness is increasing day by day, thus worsening the situation. Moreover, downsizing in many government offices and within the private sector has further worsened the problem. Similarly, unemployment causes further problems like lower consumer spending and savings and also the crime rate as unemployed workers earn no wages, therefore they spend little and save less. A person is unemployed who has ability to do work and is willing to do work but is unable to get job opportunity. In the current situation more than 3 million people are unemployed in Pakistan and unemployment ratio is more than 12%. In Pakistan unemployment is of structural and cyclical nature. Moreover, major source of unemployment is existence of involuntary unemployment which is the inflexibility of wages as a result of economic shocks. In Pakistan, inflexibility arises because of costs involved in keeping a check on the compensation system prevalent and improving it. 2002
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This note was uploaded on 12/25/2010 for the course DEPTT. 2339485 taught by Professor J.khowel during the Spring '10 term at twsu.edu.

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unemployment - Pakistan Unemployment Title: Asian Country...

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