Prioritizing youth employment for our future

It is extremely concerning to learn that, as per official data from the Bangladesh Bureau of Statistics (BBS), in the January to March period of the current calendar year, the young workforce aged between 15 and 29 fell by 1.46 million compared to the same period in 2023. Further concern is the fact that the unemployment rate has risen on a quarterly basis -- from 2.35% in the fourth quarter of 2023 to an estimated 3.51% in the first quarter of 2024.

Bangladesh's impressive economic growth over the past decade has been impressive, and much of it can be attributed to its demographic dividend -- the large, youthful population that Bangladesh currently enjoys. However, it is clear to see that this potential remains vastly underutilized.
Failing to consistently provide decent job opportunities to the nation's youth is about as severe a threat to Bangladesh's long-term development prospects as any, and must be taken extremely seriously by the authorities concerned.
Historically, the unemployment crisis has disproportionately impacted educated youth; those with tertiary education are often most unable to find work. This highlights a glaring skills mismatch between what employers demand and what the education system provides.
Addressing this requires a multi-pronged approach and starts with revamping curricula to focus on appropriate skills development, while promoting a culture of entrepreneurship. Bangladesh cannot afford to not have a productive workforce, and dwindling employment numbers among the youth is a very concerning sign.
Only by capitalizing on its youthful human resources can Bangladesh sustain its economic momentum and achieve its long-term ambitions, reports DT.