The official unemployment rate of Pakistan is only 6%, but a private research conducted by a research firm shows a completely different picture.
According to the research, unemployment rate of Pakistan is 49% which shows a significant difference between the rates projected officially and the real rate. However, despite a major disparity between the actual and official figures, world organizations like IMF and World Bank rely on the data that is being provided by the government.
But that is not the case with the corporate sector. It has been noted that the corporate world relies more on the data provided by the private research firms than the official data. In order to expand further, the corporate sector needs credible data which can be availed through private sector research firms only. Nielsen in its report said that the employment rate of Pakistan is only 51% as compared to the 94% provided by the Pakistan Bureau of Statistics (PBS).
Nielsen report was based on a survey that was conducted in more than 38 cities and 278 villages across Pakistan with a sample size of 6,766 households. The survey also identified Pakistan’s consumer market at Rs. 1 trillion, food being the major segment of consumer spending with a share of 79% alone.
The huge difference between the official and private data was scrubbed by the Chief Statistician of PBS Asif Bajwa who said that no national data set is perfect. He said that the official data is correct at most levels as it is used by the government in its economic survey as well as by international agencies like World Bank and IMF.
While the data has been a problem, unemployment nowadays is the core concern for the Pakistani population. According to a recent poll conducted by the Geo Group, 22% of Pakistani’s believe that unemployment is the biggest problem of the country followed by inflation (21%).