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HAMDALLAH'S PASSESSANCE RATE AT DAMAC
Introduction: HAMDALLAH'S PASSESSANCE RATE AT DAMAC, A Comprehensive Analysis
The passage of time has brought about significant changes in the world's economy and politics. The global financial crisis of 2008 has left many people struggling financially, and the pandemic that hit the world in 2020 has added to their woes. These events have led to a rise in unemployment rates worldwide, which is causing significant distress for individuals and families.
One of the factors contributing to this situation is the high prevalence of unemployment among the youth population in many countries. This phenomenon is evident from the figures provided by the World Bank on unemployment rates at various countries across the globe. According to the data, the unemployment rate in Pakistan was reported as being 14.5% as of August 2021. In contrast, the unemployment rate in Bangladesh was recorded as being 7.6%, while it was 9.4% in India.
Furthermore, the COVID-19 pandemic has also had a significant impact on employment opportunities in many countries. The lockdowns and social distancing measures imposed during the pandemic have resulted in reduced demand for labor, leading to increased unemployment rates. This trend can be observed globally, with several countries reporting higher unemployment rates than before the pandemic.
The high unemployment rate in Pakistan has been exacerbated by the ongoing economic downturn caused by the pandemic. The country's GDP growth rate has been declining steadily since the onset of the pandemic, which has affected the ability of businesses to operate and create jobs. As a result, the government has implemented various policies to stimulate the economy and support job creation.
One such policy is the Skill Development Act,Premier League Frontline which provides incentives for employers to train employees in new skills. This initiative aims to improve the employability of the workforce and reduce the gap between those who have acquired skills and those who do not. Another measure is the Job Creation Plan (JCP), which offers financial assistance to individuals seeking employment.
However, despite these efforts, the unemployment rate remains high, and the government needs to find ways to address the issue more effectively. The government could implement policies that encourage entrepreneurship and provide training programs for unemployed youth. Additionally, the government could invest in infrastructure projects that would create new jobs and boost the local economy.
In conclusion, the high unemployment rate in Pakistan is a result of various factors, including the pandemic-induced economic downturn, the ongoing economic downturn, and the lack of investment in job creation. However, with proper implementation of policies and investments, it is possible to reduce the unemployment rate and help the unemployed youth achieve employment. It is essential that the government works closely with the private sector and international organizations to develop strategies that will address the issue of unemployment effectively.