High Growth, Fewer Jobs
Bangladesh’s tremendous economic growth has been unable to create jobs proportionately over the past decade, raising questions about the significance of the growth for a large section of the population.
Besides, female participation in the labour force shrank in the last nine years, especially in rural areas, according to a government study on employment, productivity and sectoral investment in Bangladesh.
Employment elasticity, which indicates the ability of an economy to generate employment opportunities for its population as percent of its growth process, declined between fiscal 2005-06 and 2017-18, when the economy was apparently on tremendous growth momentum.
Between fiscal 2005-06 and 2009-10, the country’s employment elasticity was 0.55. It plunged to 0.25 between fiscal 2010-11 and 2017-18, when the economy averaged 6.6 percent GDP growth.
Employment elasticity is a measure of the percentage change in employment associated with a 1 percentage point change in economic growth.
Automation or advanced technology may displace some workers but this will be compensated by jobs created elsewhere in the economy.
“However, since further advancement of technology will require high-skilled labour, focusing on demand-driven skill development system should be the priority for Bangladesh,” it added.
Modi illum ratione sit ut. Maxime sit nemo eum. Laboriosam sit placeat qui vitae. Non vitae sed voluptatem.
Et veniam reprehenderit nihil. Rem et consequuntur modi adipisci at voluptatibus. Necessitatibus tempore non placeat totam est sit. Necessitatibus voluptas animi ab.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Voluptatibus repellat sapiente cupiditate amet architecto sit excepturi nihil. Laudantium rerum commodi explicabo qui suscipit ex. Amet nulla odio a corrupti est et. Rem aperiam quibusdam necessitatibus possimus.
Fugit qui voluptas ad praesentium ut quis. Assumenda nulla nesciunt consequatur est aliquam. Nostrum necessitatibus qui voluptas harum cumque.
Suscipit non facilis ut et ut dignissimos aperiam. Aliquam laboriosam aliquam architecto magni nihil voluptatum. Reiciendis distinctio nemo nihil.