Planning deficit behind soaring unemployment in BD

Shahariar Islam Sovon :

Bangladesh is facing an unprecedented rise in unemployment, with the latest data revealing a record-high rate of 4.63 per cent, impacting over 27.4 lakh (2.74 million) individuals across the country. According to the latest quarterly Labour Force Survey by the Bangladesh Bureau of Statistics (BBS), the surge in unemployment reflects the broader economic instability, characterised by persistent inflation, sluggish investment, and rising interest rates. Experts are pointing to a lack of comprehensive strategic planning and policy reforms as key contributors to the escalating job crisis, urging the government to take immediate action to tackle the growing unemployment issue and better align education with market needs.

The data, based on the internationally accepted 19th International Conference of Labour Statisticians (ICLS) standard, covers the October-December quarter of the current fiscal year. This marks a sharp increase from 3.95per cent recorded during the same period last year, indicating growing strain in the country’s labour market.

Even under the older 13th ICLS guideline, which BBS continues to use for comparative purposes, the unemployment rate has risen to 3.69per cent, up from 3.20 per cent in December 2023. This corresponds to 26.1 lakh unemployed individuals, a year-on-year increase of over two lakh.

Dr. Saber Ahmed Chowdhury, Chairman of the Department of Peace and Conflict Studies at Dhaka University, has criticised the government for lacking a comprehensive study on the unemployment rate in the country. Speaking to The New Nation, he expressed concerns about the growing unemployment crisis, particularly among university graduates.

According to Dr. Chowdhury, while job search activities are prevalent, there is a significant lack of motivation to pursue entrepreneurship among the youth. He pointed out the stark contrast between the wages of day laborers and university graduates, stating that a laborer can earn Tk 20,000 a month, while fresh graduates from Dhaka University are offered starting salaries between Tk 15,000 and Tk 20,000. “This discrepancy is one of the key reasons why we are seeing such high unemployment among educated youth.

The wage gap is discouraging graduates from pursuing jobs or entrepreneurial ventures,” he said.
Dr. Chowdhury also emphasised the need for a shift in focus towards freelancing as a viable career path, which he believes holds the potential to create opportunities and reduce unemployment. He argued that the education system has largely failed to address the mismatch between academic offerings and the practical job market.

“Educational institutions in Bangladesh are offering a wide range of courses, but many of them do not have proper job scopes,” he noted. “We need to realign education with market demand. The courses should be geared towards skills that are needed in the economy, especially in emerging fields like freelancing, digital skills, and entrepreneurship.”
Additionally, Dr. Chowdhury was critical of the University Grants Commission (UGC), accusing it of failing to evaluate the relevance of university courses in the context of job market needs.