Assignment

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Course Title: Introduction to Economics Course Code: ECO2021

Submitted to: Submitted by:

Assistant Professor Dr. Kazi Tanvir Mahmud Saleh Ibne Omar
Department:
Economics, Southeast University (SEU)

Date of Submission: 19 April 2018

 Unemployment problem in Bangladesh

Introduction:

Unemployment is a situation when someone is at his/her working age and trying to find a full-
time job, but is not able to get one. Unemployment problem has become a great concern all
over the world. In Bangladesh, this problem is in a serious position, thousands of people in our
country are unemployed. Every year thousands of student are graduating from Universities
and Colleges, and only a fraction of them is being able to get a job. Every year this problem is
rising at an alarming rate without proper solutions. The government of our country is not so
successful to solve this major problem yet.

Types of unemployment in Bangladesh:

› Wealthy unemployment.
› Fractional unemployment.
› Structural unemployment.
› Cyclical unemployment.
› Politically caused unemployment.
› Egoistic unemployment.
› Industrial unemployment.
› Seasonal unemployment.
› Real wage unemployment.
› Geographical unemployment.
› Unqualified unemployment.

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Current situation of unemployment in Bangladesh:

Unemployment problem in Bangladesh is not a new thing, it has been worsening over the past
years. Some estimates suggest that, nearly one-third of Bangladeshi youth is struggling to get
jobs. During the calendar year of 2014 and 2015, the country generated 600k jobs but almost
2.0 million entering the marketplace every year. In 2017 the unemployment rate of Bangladesh
was 4.1% (about 40% of the population is unemployed). From the latest projection by
international labor (ILO) the unemployment rate in Bangladesh will remain static at 4.4% in
2018 and 2019. It is also estimated that the unemployed people in Bangladesh are going to
increase from 2.9 million (2017) to 3.0 million in 2018.

Unemployment rate in Bangladesh (Chart):

From 2007-2017
6%

5%
5%
4.50% 4.50% 4.50%
4.30% 4.20% 4.20%
4% 4.10% 4.10%
4%

3%
3%

2%

1%

0%
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Source: www.statista.com

Unemployment rate = × 100

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Causes of unemployment in Bangladesh:

Like other developing countries Bangladesh is suffering from a large scale of unemployment
issue. Some of the causes of unemployment in Bangladesh are given below:

› Lack of skill: lack of skill is one of the major issues in Bangladesh, although we have
large manpower but most of us are not skillful as required, as a result, unskilled peoples
are causing unemployment.
› Population growth: The rate of population growth at present is 21.6 per thousand which
is quite alarming, so the working places that we have in Bangladesh are not enough to
provide jobs to all this increasing number of population.
› Lack of industrialization: Bangladesh is backward in terms of industries. The industries
we have can only give works to a small number of people.
› Defective education system: The education system is so defective that we don’t get
skilled people at a large number.
› Lack of proper utilization of resource: We have lots of natural resources but we don’t
have the proper guidance and equipment to use them properly.
› Narrow mentality: In this country, people don’t respect every job, that’s why young
educated people find it hard to get a job.
› Corruption: This is one of the main reasons for most of the people being unemployed.
› Lack of entrepreneurship: There is lack of entrepreneurs in our country to build the
working field properly.
› Seasonal Agriculture: Agriculture in Bangladesh is basically a seasonal affair. It
provides employment facilities to the rural people only in a particular season of the year.
› Laziness: Most of the people of our country is lazy, they prefer happy time without
doing the hardship needed for to be happy.

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Impact of unemployment in Bangladesh:

The impacts of unemployment aren’t something that we can ignore. Millions of young people
are being unemployed every year. Some of the impacts of unemployment are given below:

› Mental health issues: Being unemployed for a long term isn’t something everyone can
tolerate, unemployed people can become depressed, hopeless, and frustrated.
› Not motivated to work: When people remain unemployed for a long time they might
lose their motivation to work or search for a job.
› Tension at family: Unemployed people become eventually burden to their family, their
relatives mock them mentally. Quarrels and arguments often occur, sometimes it leads
to marriage breakup.
› Political instability: There is political instability in the country due to unemployment.
Unemployed persons consider the government as worthless, so they make riots by
blocking the streets, sometimes they engage themselves in destructive activities to take
down the government.
› Lose of skill: The unemployed is not able to put his/her skills to use. And in a situation
where they remain unemployed for a long time, they may have to lose some of their
skills.
› Suicide cases: Unemployed people get so depressed they sometimes attempts suicide
and sometimes actual suicide happens.
› Increase in poverty: An unemployed person doesn’t have any type of income, so poverty
increases.
› Crime and violence: An unemployed person can engage himself/herself in different
types of crime and violence.
› Drug addiction: Unemployed people can easily be addicted to drugs, this increases drug
dealers in the country and destroy lives of many young people.
› Rise in tax: In order to demand the unemployment funds the government raise tax over
the employed citizens and it gives the employed citizens a very hard time.
› Social problems: Different types of social problem occur due to unemployment,
unemployed people put a negative impact on the society and it leads to social
destruction. 4
Possible solutions of unemployment:

This problem may not be solved overnight, but possible measures can be taken to fix it.
The first and foremost thing is to set up a large number of mills, factories, and firms through-
out the whole country. Training centers should be opened so that the students can go there and
learn some extra skills or polish their learnings. Different seminars, workshops should be held
to guide unemployed peoples, students, and others. We should change our outlook and respect
every job. Our students and youth should be encouraged to respect manual labor and choose
an independent career. The government should be honest about their plans and policies. The
government should aware people about the curse of overpopulation so that peoples in our
country can take family planning guidance. Some people favor their relatives or friends while
hiring, this should be stopped. Corruption at working places is common nowadays, people take
money to give a person job, the authority should keep a close eye on the job interviewers. The
media should be active, if the reporters find any kinds of indiscipline at a certain company,
firm, industry or in the governmental workplace they should put it on the news so that
necessary steps can be taken. The person who is seeking job he/she should be very serious,
hardworking, and aware of himself/herself so that he/she doesn’t miss a single chance of
getting employed.

Conclusion:

The population is like blessings for any country but if a large number of that population
remains unemployed it brings curses to the nation. Despite overpopulation problem in
Bangladesh, we have this serious unemployment problem which is cursing us in different
ways. Our country is developing at a slow pace for this reason. It is hampering our economic
growth tremendously. We cannot totally remove unemployment from Bangladesh but we can
decrease the amount by taking necessary steps. The government needs to play a major role to
reduce this huge amount of unemployment rate and quickly handle this issue otherwise, this
problem may worsen each and every year.