36 percent of highly educated youth in Bangladesh unemployed: IMF

A large portion of highly educated youth in Bangladesh are not getting employment opportunities even after completing their education. According to a study by the International Monetary Fund (IMF), the unemployment rate among highly educated youth in the country is about 36 percent. In other words, of 100 highly educated young people entering the job market, about 36 do not find employment.

The IMF analysis found that the unemployment rate among highly educated youth in Bangladesh is much higher than overall youth unemployment. The overall youth unemployment rate in the country for those aged 15 to 24 is about 10 percent. In contrast, the unemployment rate among highly educated youth is nearly three and a half times higher.

The study on Asia's youth unemployment situation was published in the September issue of the IMF's 'Finance and Development' magazine. It said that although youth unemployment is a major problem in various Asian countries, the crisis is becoming more acute among the highly educated.

Among South Asian countries, the unemployment rate among highly educated youth is highest in Sri Lanka, at about 43 percent. In India, this rate is about 42 percent. And in Bangladesh, unemployment among highly educated youth is about 36 percent. On the other hand, compared to these countries, the unemployment rate among highly educated youth is lower in most Southeast Asian countries.

According to IMF data, the overall youth unemployment rate in India is about 18 percent and about 22 percent in Sri Lanka. In other words, in these two countries too, unemployment among highly educated youth is significantly higher than overall youth unemployment. In Southeast Asia, unemployment among highly educated youth is about 18 percent in Indonesia, 16 percent in Vietnam, 13 percent in Malaysia and Thailand and 12 percent in the Philippines. In Singapore, this rate is about 8 percent.

The IMF has described the job crisis among the highly educated as a 'graduate glut'. Speaking on the matter, Krishna Srinivasan, Director of the Asia and Pacific Department, said highly educated youth are struggling to find jobs matching their educational qualifications.

The study also highlighted rapid technological change as a new challenge for youth employment. The IMF said that with the increasing use of artificial intelligence (AI) and automation technology, some entry-level technology-driven jobs that previously created opportunities for new graduates to enter their careers are disappearing.

The study noted that positions such as junior engineers, animators and administrative staff could also be affected by this change.