Shahariar Islam Sovon and Sarfuzzaman Khan :
The unemployment crisis across South Asia (S Asia), including Bangladesh, has emerged as a pressing challenge, threatening the nation’s socio-economic stability and progress. Despite a growing economy, a significant portion of the population, especially the youth, remains jobless, exacerbating concerns about inequality and poverty.
In Bangladesh, the number of unemployed individuals rose to 2.66 million by the end of 2024, up from 2.49 million in 2023, according to the Bangladesh Bureau of Statistics (BBS).
Despite steady economic growth, youth unemployment remains a persistent issue, with an estimated two million people entering the job market annually. Of these, only 1.3-1.4 million find employment domestically, while others seek opportunities abroad.
Dr. Mohammed Tareque Aziz, Dean and Professor at Green University, emphasized the mismatch between academic curricula and market demands. “Our education system often prioritizes theoretical knowledge over practical skills, leaving graduates ill-prepared for job requirements,” he stated. Dr. Aziz also pointed to insufficient job creation in high-skill sectors and limited coordination between academia and industry as significant barriers.
Dr. Aziz further emphasized the role of academic institutions in this mismatch. “There is poor coordination between academic institutions and industries, resulting in curricula that fail to align with market demands. This disconnect exacerbates the challenges faced by graduates in finding employment,” he added.
Md. Saleh Akram, Assistant Professor at the University of Asia Pacific, highlighted economic recession and inflation as driving factors behind the crisis.
He also pointed to political instability as a significant factor contributing to unemployment. “Government agencies often face long delays from issuing recruitment notifications to final appointments due to political unrest. This uncertainty extends to private agencies, which frequently hesitate to expand or hire,” he noted.
Akram’s observations underline the multifaceted nature of unemployment in Bangladesh, emphasizing the urgent need for economic stability and streamlined recruitment processes to address these challenges.
Bangladesh’s challenges mirror those of its South Asian neighbors:
India: According to the India Employment Report 2024, India’s unemployment rate is projected at 3.2%, equating to 23.1 million people. Youth account for 83% of the unemployed workforce, with the share of educated young individuals doubling since 2000.
Nepal: The unemployment rate is forecast at 19.72% in 2024, affecting approximately 1.84 million people, according to Statista. The latest Nepal Living Standard Survey reveals a 1.2% rise in unemployment over five years.
Sri Lanka: Amidst economic instability, Sri Lanka recorded 373,461 unemployed individuals in Q1 2024, up from 351,303 in Q4 2023.
Pakistan: Pakistan’s unemployment is expected to reach 6.61 million in 2024, adding pressure to an already strained labor market.
High inflation rates, slow post-pandemic recovery, and political instability are common denominators across the region. The World Bank’s Macro Poverty Outlook for Bangladesh predicts that around 500,000 Bangladeshis could fall into extreme poverty by the end of 2024, with inflation forecast at 9.6%.
Experts call for systemic reforms in education, stronger industry-academia collaboration, and effective policy measures to promote job creation. As the unemployment crisis looms over South Asia, coordinated regional efforts and targeted national strategies are crucial to reversing this alarming trend and ensuring sustainable development.
