One in every six people in Pakistan has remained without employment since 2018, while 3.6 million young people enter the job market every year.
Economic stability alone is not enough to create the jobs Pakistan needs.
The country must accelerate structural reforms and encourage private sector investment to expand employment opportunities, according to the lender.
Pakistan faces the challenge of absorbing millions of new job seekers each year while workers struggle with declining incomes and rising living costs.
The World Bank has stressed the need to make the private sector a stronger driver of job creation. Businesses need an environment that allows them to invest, expand operations and hire more workers.
Pakistan needs faster structural reforms to achieve annual economic growth of 6 percent.
The World Bank has called for reforms that generate private sector-led growth and create more employment opportunities across the economy.
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