ISLAMABAD: If you have a degree you are three times more likely to be jobless in Pakistan than the national unemployment rate.

These rather dismal statistics emerged Saturday from the Annual Plan 2022-23. The size of the labour force has increased by 4.6 million during 2014-2018 (equivalent to 1.4 million per annum).

Approximately, half of the working-age population is out of the labour force, mainly due to very low women participation and a high percentage of young people who are ‘Not in education, Employment, or Training’. This rate was 30 to 34 percent between the years 2009 and 2018.

Youth unemployment is higher than the average unemployment rate.

Pakistan is experiencing a phenomenon of having unemployed educated people, particularly jobless graduates.

The reason given for this is a mismatch between the education being imparted and the need of the economy to sufficiently absorb fresh graduates.

The pandemic adversely impacted the livelihood of about 22 percent of the workforce, as around 49 percent of the working population faced unemployment or a decline in income before recovering to 33 percent (52.6 million), after the first wave of COVID-19.

Overall, 49 percent of the working population faced unemployment or a decline in income during the COVID-19 , the urban workers constitute 58 per cent and rural workers were 43 percent.