Home Economy & insights Half of Bangladesh’s youth have not found jobs in a decade: World...

Economy & insights

Half of Bangladesh’s youth have not found jobs in a decade: World Bank

Young people are constantly entering the labor market in Bangladesh. However, not even half of the young people who have entered the market have found jobs. This information was given by Johannes Jatt, Vice President for South Asia at the World Bank. He said that almost half of the young people who have entered the labor market in Bangladesh in the past decade have not found jobs. The situation for young people in terms of employment is even more challenging.

He revealed this information in a statement sent to the media on Tuesday (March 17). Johannes left Dhaka today after a three-day visit.

The statement said that in the last decade, about 14 million young people have entered the country’s labor market. In contrast, only about 8.7 million jobs have been created. As a result, a large portion remains unemployed, which can create pressure on the economy in the long term.

During his stay in Dhaka, Johannes held meetings with the Minister of Finance and Planning, the Minister of Commerce, the Prime Minister’s Advisor on Finance and Planning, and the Governor of Bangladesh Bank. The government’s development priorities and potential areas of cooperation were discussed in these meetings.

In the statement, he said that the government is giving importance to large-scale job creation, skill development, and increasing investment. The World Bank is committed to strengthening its support to achieve this goal. Emphasis is being placed on increasing cooperation in creating jobs, especially for youth and women.

He stressed the importance of sustaining economic growth and structural reforms to increase employment in the context of global uncertainty. The long-pending Johannes Jatt also commented that it is urgent to implement macroeconomic and financial sector reforms.

The statement said that the World Bank is working to build economies in member countries where the benefits of growth are directly translated into employment. To this end, various assistance is being provided to invest in physical and human infrastructure, create a business-friendly environment, and attract private sector investment.