As admirable as Bangladesh’s upward economic trajectory and impressive infrastructural development have been over the last decade or so, much of that growth has, unfortunately, been jobless.
Sterling growth numbers aside, most of that progress has not been reflected across the entirety of our economy, and the crux of the issue remains our woefully high unemployment rates.
With over 2 million people entering the job market every year, it’s unfortunate that unemployment continues to be a major hurdle for us.
However, it is good to know that this is an issue that the government is indeed taking into cognizance, as, according to Finance Minister AHM Mustafa Kamal, plans are in motion to make sure that each and every “capable” individual in Bangladesh would be employed by 2030.
However, it would behoove the administration to understand that any attempts at tackling the unemployment issue needs to be inclusive of the nation’s wide socio-economic spectrum. And the primary way they can carry it out is for them, and relevant third parties, to continue to develop economic and social policies to incentivize job creation across all sectors of our economy.
To that end, initiatives such as the establishment of 100 economic zones -- such as the one in Narayanganj -- for business could prove to be instrumental.
As Bangladesh inches towards middle-income status, it is going to become all the more imperative for us to make sure that our future growth is sustainable. And the best way we can ensure that is by reducing our unemployment rate.
That is a job that neither the government, nor our private sectors, can afford to sleep on.