Pakistan Sees 7% decline in unemployment Rate: survey

Islamabad: In a positive turn for Pakistan’s economy, the unemployment rate has shown a significant decline compared to last year, according to survey Report. The second quarter report of Ipsos-Pakistan’s consumer confidence survey for 2024 revealed these encouraging trends, with over 1,000 participants from across the country providing insights.

The survey indicated a 7% decrease in the number of Pakistanis reporting unemployment from the previous year. Specifically, 57% of respondents in the previous survey reported either themselves or someone they knew as unemployed, a figure that has now dropped to 50%. Additionally, there was a 5% increase in respondents who reported not losing their jobs.

A notable 13% reduction in the unemployment rate was observed from September 2023 to the present, with 63% of respondents stating they were unemployed in September 2023, compared to a lower percentage now.

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The fear of job loss among Pakistanis has also decreased significantly, with 85% of respondents expressing concerns about unemployment in the current survey, down from 95% in September 2023. Confidence in employment prospects has risen, with the percentage of respondents feeling secure about their jobs increasing from 5% to 15%.

These findings reflect a growing optimism in the economic landscape of Pakistan, suggesting that efforts to stabilize and improve the job market are yielding positive results. The survey results are a hopeful sign for further economic progress and stability in the country.