Bangladesh’s graduate unemployment rate in 2024 stands at 13.5%, which is three times higher than the overall unemployment rate. The youth unemployment rate, for individuals aged 15-29, is about 10%, more than double the general unemployment rate of under five percent. A report from Dhaka-based The Daily Star highlights that approximately 30% of youth fall under the category of not in education, employment, or training (NEET).
Jobless economic growth in Bangladesh is primarily viewed as an economic policy issue rather than a lack of education and training. Over the past two decades, Bangladesh has implemented around a dozen major projects focused on skill development and job creation, with support from institutions like the Asian Development Bank (ADB) and the World Bank. Despite these efforts, concerns persist regarding the mismatch between skills and job opportunities, with estimates suggesting an annual influx of 22 lakh youth into the job market, while only around 14 lakh new jobs are created, resulting in a significant portion of job-seekers remaining unemployed.
The report references sociologist Philip Foster’s critique from six decades ago, emphasizing the importance of foundational skills in education over vocational training. Foster argued against the integration of vocational courses in primary and secondary schools as a solution to youth unemployment, stressing the need for basic general education to equip young individuals with essential literacy, numeracy, critical thinking, and values for adult life and work. The rapid evolution of job requirements underscores the necessity for workers to continuously update and enhance their skills, making Foster’s insights on education’s role in skill development more relevant than ever.
