Help the entrepreneur
July 13, 2021
Pakistan’s asset – its youth bulge – can translate into economic gains through development of skills and an environment consistent with the requirements of a modern economy.
The UNDP’s National Human Development Report (NHDR) 2020, highlights that currently Pakistan’s 27 million youth are looking for gainful employment with a possible option of getting groomed as entrepreneurs of tomorrow. The cohort of the unemployed youth is predominantly women and only one-third men.
To fill the aspirations of those entering the labour market, NHDR 2017 had projected the need for creation of 1.3 million jobs a year, with a labour force participation rate of 66.6 percent. The economy’s inability to create new employment opportunities can lead to 43 million people being unemployed by 2050. An undesirable outcome.