A Statistical Study on Unemployment Rate and Its Resultant Consequences in Fresh Graduates of Punjab University

Abstract

Unemployment is when a person actively searches for employment but cannot find work. Unemployment is considered an essential measure of the health of the economy. A crosssectional study was conducted among fresh graduates at the University of Punjab, Lahore. Non-probability convenience sampling method was used in this research. The information sought included demographic characteristics and questions measuring mental and psychological well-being, job search intensity, Optimism, employment commitment, and pessimism in fresh graduates. Pearson correlation coefficients were found to assess the strength of the relationship between various factors. The binary logistic regression model was used to find the relationship between employment and different elements. Furthermore, multiple linear regression models were used to assess the relationship between the psychological well-being of fresh graduates with various factors. A total of 278 fresh graduates, 53% females, participated in the study. The majority (63%) of the participants were unemployed, and 63% of respondents faced unemployment during the first twelve months. The majority (52%) were between the ages of 23-29 years, with an average age of the graduates being 23 years. Most (64%) were graduates of M.S., and 62% of graduates got an average GPA in their last semester or year. It is concluded from the present study that the majority of the graduates were unemployed. Unemployment hurts a person's personal life and society and can partially destroy the country's economy. More research and studies are needed on this issue to assess more knowledge about the unemployment rate in fresh graduates and their mental consequences.