Staff Correspondent

Addressing the growing unemployment crisis in Bangladesh requires increased investment in technology. By enhancing investment in this sector, the country can develop a globally competitive skilled workforce and effectively combat unemployment.

Additionally, rural economies are undergoing significant transformations, with climate change exacerbating unemployment issues in these areas. Investment is now crucial across both agricultural and non-agricultural sectors. Beyond financial investments, integrating advancements in information technology and business development models is also vital.

Eminent economist Dr. Mustafa K. Mujeri emphasized these points while speaking at a special seminar titled “Labour Market Dynamics and Employment Level in Bangladesh: Challenges and Way Forward” held on Thursday at the Bangladesh Institute of Social Research (BISR) Trust office in Lalmatia, in the city.

Moreover, Prokash Roy Chowdhury, Director of Marketing and Sales at BDJobs, the country’s largest job advertising website, has commented that it is possible to export skilled manpower if the focus is increased on employment opportunities abroad in the fields of care givers, palliative care, nursing, etc.
Dr. Mujeri further stated that technology enhances productivity, and the quicker Bangladesh adapts to cutting-edge advancements, including artificial intelligence, the faster it can resolve its unemployment crisis.

The former Director General of the Bangladesh Institute of Development Studies (BIDS) also highlighted the importance of focusing on both tradable and non-tradable goods production.

As the Executive Director of the Institute for Inclusive Finance and Development, Dr. Mujeri stressed that Bangladesh must earn from its demographic dividend, an opportunity yet to be fully realized. He echoed the concerns of other speakers, noting that the lack of reliable labour market data has significantly hindered progress. As a former Chief Economist of Bangladesh Bank, he called for adapting technology to bridge this information gap.

Dr. M. Khurshed Alam, Chairman of BISR Trust and moderator of the seminar, pointed out that rising unemployment is reflected in the increasing trend of street crimes like snatching.

Dr. Alam noted that Singapore and Malaysia tackled unemployment by attracting foreign investment rather than exporting their workforce. In contrast, Bangladesh has become overly reliant on remittances without adequately upskilling its labour force. He emphasized the need to prioritize domestic production and investment instead.

Prokash Roy Chowdhury, Director, Sales & Marketing, Bdjobs.com Ltd., who has been with the company for 21 years, shared his insights, stating that rural agricultural and labour-intensive sectors show minimal unemployment. Even auto-rickshaw driving has provided employment opportunities. However, graduate employment remains a severe concern.

He pointed out that while there is a lack of jobs for graduates, there is also a shortage of skilled workers for existing vacancies. The job market is evolving, and skill requirements are shifting, yet the education system has not adapted accordingly. He urged policymakers to align educational reforms with global value chains.

As a senior official of Bangladesh’s largest job advertisement platform, he observed that many young graduates solely aspire to government jobs, multinational companies, banks, and international NGOs, leading to fierce competition in limited sectors. However, they largely overlook the garment industry, one of the country’s economic powerhouses, which struggles to attract qualified talent.

Dr. Badrun Nessa Ahmed, Senior Research Fellow at BIDS, asserted that the labour market suffers from a significant information gap, prolonging unemployment issues. Another critical concern is the mismatch between career aspirations and actual employment. Many people aim for one career path but end up working in another, primarily due to a lack of proper information. She emphasized the need for skills training, particularly in ICT.

The seminar was attended by university students, researchers from BISR and other institutions, university faculty members, and NGO professionals.