Pakistan’s Poverty Rate Jumps to 29% as Job Creation Fails to Keep Pace
Poverty in Pakistan has risen from 22 percent to 29 percent as job creation struggles to keep pace with the … Read More The post Pakistan’s Poverty Rate Jumps to 29% as Job Creation Fails to Keep Pace appeared first on ProPakistani .
Pakistan's poverty rate climbed to 29 percent in 2024, up from 22 percent, as job creation has not kept pace with a burgeoning workforce, according to the World Bank's latest economic analysis. The surge in unemployment stems from rising prices, weak economic growth, and low productivity gains, which have squeezed household incomes.
Each year, about 3.6 million people enter the labor force, straining the nation's ability to generate sufficient jobs. Despite adding 17.7 million jobs since 2018, many of these positions are low-paying and offer minimal productivity benefits. The World Bank attributes the seven percentage-point rise in poverty to severe inflation and sluggish economic expansion, while pointing to weak labor productivity growth of just 0.4 percent annually between 2014 and 2024 as a major obstacle.
To alleviate poverty and boost living standards, Pakistan must accelerate sustainable growth, enhance labor productivity, and create more high-quality employment opportunities.
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