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Job creation slows in Bangladesh

The rate of job creation has slowed down in Bangladesh. Between 2003 and 2016 an average of 1.15 million net jobs were created in Bangladesh each year. Between 2003 and 2010, total employment grew by 3.1 per cent a year before falling back to 1.8 per cent between 2011 and 2016, impacting women and youths in particular.

The country saw strong GDP growth but this is not reflected in the job market. The largest job provider in the private sector in readymade garments factories has seen a fall in job creation. Even the participation of women has declined.

The rate of job creation has slowed down due to infrastructure gaps, predominance of informality in labor markets and slow structural reforms. In the last few years, Bangladesh witnessed a six per cent GDP growth rate driven by industry and services and despite a decrease in productivity in the agriculture sector. Growth is expected at 6.4 per cent in fiscal year ’18, driven by industry and service. Export growth is likely to pick up modestly with the expected recovery in global trade. Remittance may turn around and private investments may pick up.

Economic growth remains resilient in spite of volatile export growth and shrinking remittances.

 
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