Attributes job losses to large workforce, coronavirus lockdown
Around 3.7 million Pakistani youth are likely to be unemployed in the next three to six months because of the COVID-19 pandemic, the Asian Development Bank predicted in a recent report on youth employment.
The ADB report, ‘Tackling the COVID-19 Youth Employment Crisis in Asia and the Pacific’, says that the youth of Pakistan and 13 other countries in Asia will experience a rise in unemployment.
Some of the other countries included Indonesia, Japan, Malaysia and Vietnam. Hong Kong and China will encounter the largest surge in unemployment. Altogether 10 to 15 million youth of these 13 countries can end up jobless.
The report says Pakistan’s 1.5 million youth are likely to be unemployed in the next three months and 2.258 million youth in the next six months.
The reasons for the unemployment are Pakistan’s large work force and the government’s early coronavirus lockdown decision which continued for four-and-a-half months. It caused the youth unemployment rate to increase by 12.6% from 8.9% at the end of 2019 to 21.5%.
In a six-month (virus) containment scenario, job losses for youth may equal 6.1 million in India, followed by Pakistan with 2.3 million, the report said.
It said Indonesia may see lower job losses (1.9 million) than Pakistan, despite the former having a larger youth workforce. This is likely the result of higher concentrations of youth in badly hit sectors and lower labour productivity in Pakistan.