Unemployment is a key yardstick to measure economic health. So is under-employment. If the economy maximized its efficiency and potential, everyone in employable age would find timely employment to his/her full potential at a fair wage in line with market prices. An individual who is unemployed or underemployed is both unproductive and a drain on society’s resources. Unemployment is a powerful driver that shapes government policy and plan implementation. Generally, lower unemployment rates reflect a good economic health in a country.
Sri Lanka?
As per the 2013 labor force survey conducted by the Department of Census and Statistics, Sri Lanka’s unemployed population is 384,439. Though overall, the unemployment rate stands at 4.4%, female unemployment is 6.6%. Youth unemployment, which stands at 19.1% in the 15-24 age group remains a structural issue that is persisting in Sri Lanka.
EDEX, the organizers of Sri Lanka’s largest Education Exhibition and Job Fair teamed up with LMRB to conduct a survey among a large sample of job seekers to the EDEX Job Fair. Therefore, it should be noted that the findings of this survey does not represent the views of all job seekers in the island.
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