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Inside Wellness

The Challenge Of Unemployment For Graduates In Bangladesh

Bangladesh, as a populous country, faces numerous challenges. A high proportion of the population is unemployed or underemployed. Furthermore, many recent grads are unemployed. They are unable to become self-employed in order to support their family. Every year, around one million new graduates join our existing unemployment population, further complicating the problem.

The Bangladesh Institute of Development Studies conducted the poll, which yielded worrisome results. It reflects an average of 2.0 million students enrolled at NU colleges. As of 2017, over 66 percent of graduates, including those who completed honors courses and postgraduates from the National University’s 2,154 public and private colleges, were unemployed (NU). National university graduates’ job prospects in the country’s labor market were bleak. National universities, according to academics and private-sector companies, have failed to create quality graduates for the labor market.

The poll was conducted by the Bangladesh Institute of Development Studies, and the results were concerning. It reflects an average enrollment of 2.0 million students at NU colleges. In 2017, almost 66 percent of National University’s 2,154 public and private institutions’ graduates, including those who finished honors courses and postgraduates, were unemployed (NU). National university graduates had little work opportunities in the country’s labor sector. According to academics and private-sector companies, national universities have failed to produce quality graduates for the job market.

According to a BRAC Institute of Governance and Development (BIGD) and BRAC University survey, 57% of female graduates and 42% of male graduates want to work for the government. They choose government jobs over private jobs because they provide a higher wage, more job stability, and other benefits. Government jobs, on the other hand, will be unable to meet the tremendous demand for job opportunities.

According to the International Labour Organization (ILO), more than 85.0 percent of Bangladesh’s informal workers are at danger. The world is currently experiencing a difficult period due to the Covid-19 pandemic, which will increase the number of less educated unemployed people in developing countries such as Bangladesh, India, Pakistan, and Sri Lanka. Furthermore, as a result of the crisis, economic activity and working hours are dropping at an unprecedented rate. According to the ILO report, the crisis would cut 7.20 percent of working hours or 125 million full-time employees in Asia and the Pacific, exacerbating the jobless situation.

Bangladesh has made considerable progress toward ending poverty and distributing prosperity to a greater proportion of its people. Approximately one-third of Bangladeshis lived in extreme poverty in 2000, according to the national poverty threshold; currently, this figure has dropped to 13%. Positive per capita consumption increase was also observed among the lowest 40% of the population. A crucial cause, as in most countries, was broad-based earnings increases. Bangladesh cannot afford to be complacent, with over 20 million people still living in abject poverty and many workers working in insecure positions. It requires greater economic growth in order to create more and better jobs for everyone.

Over the last decade, the economy has been favorable to employment creation. Between 2003 and 2015, job growth surpassed population growth of working-age people. This reduced unemployment rates while simultaneously bringing millions of new workers into the labor market. Workers have transitioned from agriculture to manufacturing and services as cities have grown. A significant portion of this new job creation was in formal waged employment, which was accompanied by substantial productivity and wage growth. The Ready Made Garment (RMG) sector’s large-scale increase of manufacturing employment has contributed to this transition, improving the lives of many people.

Despite steady economic growth, the pace of job creation has slowed in recent years, according to the Bangladesh Bureau of Statistics’ 2015 Labor Force Survey, which was recently released. The RMG industry had the most severe decline. These shifts jeopardize many of the labor-market advances won over the last decade, putting women and young workers in particular jeopardy. Youth unemployment, particularly among females, has already risen in recent years.

There is still a lot wrong with the labor market in Bangladesh. The most pressing issue is job quality, which remains low, with a significant number of individuals engaged in informal, underpaid, or agricultural work. Only one in every five workers is paid, and less than 40% have a formal contract. This places the great majority of workers in occupations that they could lose at any time. There is a significant disparity in job quality between men and women: whereas just 5% of working males are underpaid, one in every three working women is underpaid.

These findings highlight the gravity of the problem of educated unemployment. Policymakers should pay close attention to this issue. These issues could be the result of a lack of job prospects, employees’ incapacity to meet employer demands, or a major incidence of gender discrimination. This increased number of new graduates will cause confusion and frustration, leading to an increase in numerous social crimes such as theft, robbery, social strife, and so on.

In recent years, university degree holders have failed to fulfill job market demand. Because of the current circumstances, staff must be trained from the start. Business owners are unable to fill management positions with qualified citizens from our country.

These findings highlight the gravity of the problem of educated unemployment. Policymakers should pay close attention to this issue. These issues could be the result of a lack of job prospects, employees’ incapacity to meet employer demands, or a major incidence of gender discrimination. This increased number of new graduates will cause confusion and frustration, leading to an increase in numerous social crimes such as theft, robbery, social strife, and so on.

In recent years, university graduates have struggled to meet job market demand. Because of the current circumstances, staff must be trained from the start. Business owners are unable to fill management positions with qualified Americans.

Universities are opening new departments with little concern for their relevance. According to economists, the employment rate is lower than the GDP rate. Furthermore, the most skilled segment of the educated workforce is leaving abroad, while the remainder is staying at home due to a lack of special and technical abilities.

In recent years, university graduates have struggled to meet job market demand. Because of the current circumstances, staff must be trained from the start. Business owners are unable to fill management positions with qualified Americans.

Universities are opening new departments with little concern for their relevance. According to economists, the employment rate is lower than the GDP rate. Furthermore, the most skilled segment of the educated workforce is leaving abroad, while the remainder is staying at home due to a lack of special and technical abilities.

Universities and private sector organizations should work together to develop our children into skilled human capital. To accomplish this, international recognition should be given to skill development training programs, and research universities should be equipped with high-quality post-graduate facilities. Incentives such as tax breaks should be provided to the corporate sector in order to encourage it to collaborate with universities on research and development 카지노사이트. Incentives such as tax breaks should be provided to the corporate sector in order to encourage it to collaborate with universities on research and development.

Parents have great expectations for their college-aged children. What good is a college degree if you can’t even get a regular job? After all, higher education is too expensive. Students no longer read library books because government positions are becoming increasingly lucrative. As a result, students spend a lot of time studying.

Policymakers could work to address these concerns by shifting university resources toward higher-demand vocational or technical education. Employers should encourage employees to work in a variety of contexts so that their skills can be put to use.