Unemployment is the condition of one who’s able to work, actively, intelligently, smartly, precisely, in short, have all qualities of doing the job; however, unfortunately, not able to find any work. It is essential to note that to be considered unemployed, a person needs to be an active member of the labor force and searching for remunerative work.
Underemployment is also an option for the unemployed person. This means finding a job that is a little simpler and short period: part-time employees, seasonal employees, or a day or casual workers. The period might also describe the situation of employees whose schooling or schooling makes them overqualified for their jobs.
The government collects and analyzed data based on labor offices to know the statistics on Unemployment in many countries and consider it a prime indicator for economic level. Trends in Unemployment and statistical differences among groups inside the population are studied for what they may reveal of general economic developments and as bases for possible governmental action. Full-time employment is a main goal of Governments, and they are willing to create opportunities. It should be pointed out that complete employment is not necessarily synonymous with a 0 unemployment rate at any given time. The unemployment fee will include a few persons who are between jobs and not unemployed in any lengthy-term sense.
Literature Point of view:
For the last 30 years, unemployment in general and youth unemployment is serious issues in many business communities. Unemployments is an extra threat and burden on our young youth more than adults; the first job is riskier and also short-lived (Jacob 2008). Many young people do some part-time jobs during their transformation from college to work and found work based on little experience, but on the other hand, some people stuck in this procedure and could not able to find jobs during this time era.
Unemployment in Pakistan:
In recent years, the unemployment rate in Pakistan reached almost 4.45%, which is a very insignificant difference from the previous year. The unemployment rate of a country expresses the share of people without a job in the country’s labor force, i.e., unemployed citizens among those who are ready to work.
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