A serious problem in Bangladesh, and the latest data is alarming According to the report based on the latest survey data released by the Bangladesh Bureau of Statistics (BBS), unemployment fell to 0.4 per cent in 2023 on the basis of national average, but on absolute people the number of unemployed people has increased to 26.6 lakh in September 2024 compared to 25 lakh unemployed people in September 2023, showing an increase of 1.7 lakh within only one year.
Jobs are being lost across every sector. What’s even more depressing is a decline in country’s overall labour force by 19.5 lakh. Even youth participation has declined by 21.7 lakh, suggesting that many young people are throwing in the towel on job-hunting or are unable to find jobs commensurate with their skills.
The economy is falling, internationally and domestically. Workplaces are evolving, sectors are contracting and countless young people aren’t being prepared for the work of the present. Many people are losing hope. When the younger generation begins to disengage from the workforce, it indicates our system is not working for them.
This sharp increase in unemployment is troubling. The government should be working to create more jobs and provide better training programs for young people. Jobs for those that need it the most will be available for business investment. And as a society, we need to be there for those who are struggling. Bangladesh needs to act now if it is to reestablish belief in its work force, particularly in its under-25s. Otherwise, the consequences reach far beyond today’s numbers, affecting the country’s future for years to come
Source: Business Inspection BD
