No problem will be solved unless unemployment rate reduced

There is no need for research to know that the number of unemployed people in the country is gradually increasing—nowadays, almost every family has one or two unemployed members. A recent survey showed that one in every three educated individuals is currently unemployed.

According to news published in the media on Monday (May 19), unemployment in the country has further increased. In the October-December quarter of the current fiscal year, the unemployment rate rose to 4.63 percent. At present, the number of unemployed people in the country stands at 2.73 million. This information came from the quarterly “Labour Force Survey” published yesterday by the Bangladesh Bureau of Statistics (BBS).

Data from the Labour Force Survey (October–December quarter) shows that according to the 19th ICLS, the current unemployment rate in the country is 4.63 percent which was 3.95 percent at the same time of the last year. According to the 13th ICLS, the unemployment rate at the end of December was 3.69 percent. By the end of December, according to the 19th ICLS, the number of unemployed people in the country had increased to 2.73 million. It was 2.4 million at the corresponding period of the last year. According to BBS estimates, under the 13th ICLS, the unemployment rate at the end of December was 3.69 percent. At the same time of the previous year, the rate was 3.20 percent. Under this older estimate, the number of unemployed people in the country is currently 2.61 million. At the same time of the previous year, the number was 2.35 million.

Economists cite high inflation, a lack of a favorable investment environment, and high interest rates on bank loans as the reasons behind the rising unemployment rate. According to the BBS definition, in Bangladesh, the unemployed population consists mainly of those who have not worked for at least one hour in the past seven days but were available for work during the past seven days and the upcoming two weeks, and who have looked for paid employment or profit-driven work in the past 30 days.

At present, our society and state are plagued with countless problems. Our society and state are now divided by numerous opinions and paths. On almost every issue, a mob is formed. The root cause behind this is actually unemployment. People are restless and uncertain. The majority no longer have stable ground beneath their feet. Lives are worn out by economic hardship. Unemployment has now spread through our society and state like a terrible epidemic, like a curse.

To reduce unemployment, investment generation and job creation are essential. The government is making various statements, but none of them are being effective. If things continue this way, along with rising unemployment, various types of crimes will also increase in society and the state. Evidence of this is already clearly visible. Therefore, without further delay, an environment for investment generation and employment creation must be established by any means necessary.

It is also true that unless a proper democratic environment is restored in the country, an environment for investment will not be created, and without an investment-friendly environment, further employment will not be created. These issues are interrelated. If the government does not take immediate initiative to reduce unemployment, the consequences will be extremely dire. Therefore, it is expected that the government will take appropriate measures to reduce unemployment.