Human Security in Pakistan Table 7.3: Trend in the Index of Employment and Wages 2001-02 2005-06 2010-11 2015-16 1. Unemployment Rate(%) Index 0.347 0.789 2. Labor Force Participation Rate(%) Index 0.446 0.529 3.% Marginal Workers in Labor Force Index 0.329 0.396 4.% employment in the Informal Sector Index 0.638 0.544 5. Average Real Wage Index 0.401 0.477 6. Skill Premium Index 0.229 0.244 OVERALL INDEX 0.379 0.467 0.610 0.520 0.628 0.566 0.326 0.247 0.456 0.621 0.504 0.830 0.524 0.505 0.257 0.510 2017-18 0.795 0.476 0.652 0.458 0.590 0.635 0.590 2018-19 0.558 0.492 0.681 0.467 0.549 0.438 0.525 2020-21 Latest Year 0.593 0.492 0.661 0.430 0.523 0.386 0.505 The year 2022-23 is likely to end with a big increase in the unemployment rate, as shown in Box 7.4. Box 7.4: Big Increase in Unemployment in 2022 The year 2022 is likely to have ended with a big increase in the number of unemployed by 2 million. This will raise the unemployment rate for the first time to almost 8%. This is the consequence of the massive damage inflicted by the floods and the big constraint on imports which has created shortages of inputs and, consequently a big fall in industrial production. The GDP growth rate is likely to be negative 1%, with agricultural and industrial sectors contracting respectively by 3% to 4%. The projections of employment are as follows: Labor Force Employed Unemployed Unemployment Rate(%) 2021-22 73.5 69.6 3.9 5.6 (million) 2022-23 75.0 69.1 5.9 7.9 54