Photo: Messenger
The country's various government offices currently have approximately 500,000 vacancies, yet the unemployment rate continues to rise annually. Education researchers attribute this situation to factors such as prolonged recruitment processes and a lack of new job creation in the private sector. However, the Ministry of Public Administration reports that recruitment efforts have now commenced vigorously.
According to the Bangladesh Bureau of Statistics (BBS), the unemployment rate in Bangladesh rose by 3.51 percent in the first three months of 2024 compared to the last three months of 2023. Currently, the number of unemployed individuals in the country stands at 25 lakh 90 thousand, up from 23 lakh 50 thousand in the previous quarter of 2023.
According to this, the number of unemployed has increased by 2 lakh 40 thousand. On the other hand, there are about 5 lakh vacancies in government offices. According to the information of the Ministry of Public Administration, 13 lakh 96 thousand 818 people are working against 19 lakh 151 posts.
In this regard, Farhad Hossain, Minister of Public Administration, told The Daily Messenger, "We are endeavoring to expedite the recruitment process. Government vacancies are being filled promptly, ensuring timely employment opportunities."
BBS released the labour force survey report for the first quarter of this year (January-March) on May 6. According to the report, in the first three months of 2024 (January to March), 2 lakh 40 thousand people became unemployed in the country. Unemployment has increased in both male and female population during these three months. However, compared to the same quarter last year, the overall unemployment rate remained the same. But male unemployment has increased and female unemployment decreased.
According to experts, if there is no alternative policy to reduce unemployment, if there is no demand in the labour market, then there is no reason to increase employment. As a result, unemployment will continue to rise. To solve the unemployment problem, the educated unemployed should be made self-reliant through technical training. They should be given the opportunity to become entrepreneurs by giving loans on easy terms with low interest.
A. K. M Fahim Mashroor, chief executive of BdJobs.com, said that the number of educated unemployed is increasing mainly due to three reasons. The main reason is the large mismatch between demand and supply in the job market. Second, the country currently has started increasing job opportunities in the manufacturing and agricultural sectors. In these two sectors, there are less job opportunities for graduates or post-graduates and the demand for technically skilled people is high. Educated youth who are in the job market, they don't want to involve themselves in these jobs.
And thirdly, business has been greatly affected due to Covid. As a result, the educated youth who were engaged in self-employment through small businesses, have also become unemployed, he added.
Professor Wahiduzzaman of Dhaka University's Institute of Education and Research (IER) emphasised the importance of filling vacant government posts, stating that it contributes to productivity and overall development. He highlighted the need for not only expedited recruitment in the public sector but also for generating employment opportunities in the private sector to address the ongoing crisis. Professor Wahiduzzaman stressed the significance of creating a conducive environment for young individuals to venture into entrepreneurship as a means of tackling unemployment effectively.
According to economists, rising fuel prices, as well as the dollar crisis, are major obstacles to private sector investment. New investments are not coming in the private sector due to various complications in obtaining bank loans easily. Although private investment is decreasing, public investment is increasing. But the jobs done with government investment do not generate much employment. In this situation, economists have suggested taking various initiatives to increase self-employment opportunities.
In this context, Fahmida Khatun, executive director of CPD, a private research institute, told The Daily Messenger that opportunities should be created for young and educated youth to make them interested in creating employment on their own initiative. For that they have to arrange bank loans easily. In the present scenario, there is not much possibility of private sector investment as expected. Therefore, youth should take steps for self-employment by increasing credit facilities.
The World Bank's latest Macro Poverty Outlook for Bangladesh report released on April 2 this year has predicted that between 2022-23 and 2023-24 fiscal year, about five lakh Bangladeshis will again fall into extreme poverty. That is, their daily income will be less than two dollars and 15 cents. And the inflation rate will reach 9.60 percent. Along with these, high inflation has also become the driving force behind the alarming trend of rising unemployment.
According to private research firm South Asian Network on Economic Modeling (SANEM), the number of unemployed fluctuates due to seasonality. Due to this, the unemployment rate may increase in the first quarter of this year compared to the last quarter of last year. However, to reduce unemployment, the demand for labour in the labour market must increase.
According to BBS statistics, at least 20 lakh people enter the job market every year of whom 13-14 lakh are employed within the country. The rest go outside the country. The number of unemployed has been between 24 and 28 lakh for the last two decades.
Messenger/Disha
