Unemployment rate of Nepal stands at 11.4% with 43.6 lakh people going abroad for work; Social security act and PM employment program expected to bring positive change

The estimates shows that approximately 5 lakh individuals are added each year into Nepal's labor market and as of 2074, the unemployment rate stands at 11.4%. The unemployment rate presented here comprises of those individuals who are willing and able to work, however are not able to find work. This calculation counts the part-time workers also as employed, so in reality the job demand is even higher than expected in Nepal.

Similarly, if we see the gender wise figures, the unemployment rate for male stands at 10.3% while for female it stands at 13.1%.

This job scarcity and a myriad of other factors has increased the charm of foreign employment. The latest figures show that 43.65 lakh Nepalis have flown abroad for work, which doesn't include the individuals going on student visa. Out the the 43.65 lakh people 1.5% are skilled, 24% are semi-skilled and the remaining 74.5% are unskilled.

The right to employment, 2075 has created a provision where by an employment service center will be established in each local level. This center will identify and list the unemployed population who are willing and able to work but are not getting the job. The listed individuals will be compensated by wages worth of at least 100 days.

Similarly, the Social security act, 2074 was enacted with an aim to protect the individuals who have been deprived financially and socially. Till the end of Falgun 2075, a total of 2,195 work-providers have been listed to the Social security fund.