Jobless Growth and Ever Rising Unemployment - August 18, 2011

The business community has expressed concern over the rise in unemployment coupled with job-less growth being witnessed in Pakistan these days. Moreover, the economy is not only unable to create new jobs but it is also shedding the available jobs through massive retrenchments as industries are operating much below their production; a situation quite similar to the one already experienced in year 2000. Experts are of the view that small and medium sized enterprises, found in construction, trade and finance, apparel industry and transport sectors, are already in stress and are not creating any more jobs while the large scale industrial units, like fertilizer, cement and sugar with billions of investment, create only hundreds of jobs while small and medium size enterprises create thousands of jobs. There is a need to encourage investments in those sectors that are labor intensive.

Source: Published in The News International, August 18th, 2011