Unemployment surges to 26.6 lakh in Bangladesh

Senior Staff Reporter Published: 6 January 2025, 03:48 PM | Updated: 6 January 2025, 04:21 PM

Unemployment surges to 26.6 lakh in Bangladesh

Jobseekers wait in queue for their interview at a recruitment drive for a non-governmental organisation in Rangpur. – Collected Photo

Unemployment in Bangladesh has seen a significant increase in 2024, with the number of unemployed rising to 26.6 lakh by the end of the year.

This marks an increase from 24.9 lakh in the same period of 2023, according to the Bangladesh Bureau of Statistics (BBS).

The rise in unemployment is attributed to reduced labour force participation and a decline in employment across key sectors—agriculture, services, and industry. Additionally, the mass uprising in 2024 is cited as a contributing factor to the downturn in job opportunities.

The Labour Force Survey report for the third quarter (July–September) of 2024, recently published by BBS, highlights the following:

Unemployed Men: Increased to 17.9 lakh in 2024 from 16.4 lakh in 2023, a rise of 1,50,000.

Unemployed Women: Increased to 8,70,000 from 8,50,000, a rise of 20,000.

Total labour force participation decreased by 19.5 lakh, dropping from 6.11 crore in 2023 to 5.91 crore in 2024.

Of the total labour force, 5.65 crore are employed, leaving 26.6 lakh unemployed.

Youth labour force decline

The survey shows a notable drop in the youth labour force, which stood at 2.40 crore in 2024, compared to 2.61 crore in 2023. This indicates a decline of 21.7 lalh within one year.

Population outside the labour force

A large portion of the population remains outside the labour force, totalling 6.23 crore. This group includes students, the elderly, individuals with disabilities, retirees, and homemakers who are not seeking employment.

Implications and observations

Sectoral Impact: The decline in employment across all major sectors suggests structural challenges in job creation.

Youth Unemployment: The decreasing youth labour force signals potential issues with skill mismatches or insufficient job opportunities for young people.

Policy Needs: Addressing the rising unemployment requires targeted measures, including investment in job creation, vocational training, and economic reforms to revitalise key sectors.

With the unemployment rate increasing, policymakers face mounting pressure to address labour market issues and create sustainable opportunities for the growing workforce.