Despite reassuring statements, there is no sign that the investment drought is ending. Though there is talk of expanding the job market along the lines of Japan or Singapore, real employment opportunities remain scarce. Thousands—indeed, hundreds of thousands—of new job seekers are being added to the existing pool of unemployed.
Even official statistics cannot fully capture the scale of the crisis. Both long-term and newly unemployed individuals wander aimlessly in search of work, growing increasingly frustrated. Some, driven by despair, are turning to illicit activities. While investors remain hesitant, the unemployed continue to voice their urgent need for opportunities.
According to the latest government figures, the unemployed population stands at 2.62 million, an increase of 1,50,000 compared to the previous year. The number of educated unemployed far exceeds that of the less-educated or illiterate. According to the Bangladesh Bureau of Statistics (BBS) survey, 13.5% of the unemployed hold a bachelor's degree, while 7.13% have completed higher secondary education. This means that one in every five unemployed people is either a graduate or has a higher secondary certificate.
At one point, 2 to 2.4 million working-age people entered the job market each year, combining public and private sectors. Now, instead of creating new employment, existing employment is being lost at an unimaginable scale. Due to the lack of new job opportunities, the number of educated unemployed is increasing rapidly. Moreover, the closure of mills and factories is adding new unemployed to the list. Those who have not found jobs live in constant fear of losing their employment.
High inflation, stagnant investment, lack of employment creation, and new anxieties over job loss are poisoning all levels of society. Inflation remains above 8%, and commodity prices have risen significantly. The hardship for low-income people has worsened, as their earnings are insufficient to sustain their households. This situation did not arise suddenly.
From 2022–23, employment started to decline, and by 2024, the crisis reached its peak. After the mass student-public uprising in August last year, political instability led to the gradual closure of industries and factories. This affected not only investors but also workers and employees. Not only unemployment, but structural employment issues, inequality, and future crises have also increased.
The BBS follows International Labour Organization (ILO) guidelines to define unemployment. According to this standard, a person is considered unemployed if they are of working age, not engaged in any work, actively seeking employment, and ready to work if an opportunity arises.
If someone works even one hour a week for wages, they are not considered unemployed. People raising poultry or livestock for family needs are also not counted as unemployed. Even if a person engages in productive work without pay, they are not considered unemployed. People aged 15 and above are considered part of the labor force. Based on these rules, the actual number of unemployed in the country is likely higher than official figures.
No extensive research is needed to understand this. The overwhelming response of millions of applicants to government and private job vacancy announcements makes the situation clear. The number of people living below the poverty line is also visibly increasing. This has potentially severe consequences.
Many unemployed are getting involved in various illegal activities. Some are turning to drugs out of despair, attacking family members for money, and engaging in crimes such as robbery and murder.
Case studies reveal that a portion of unemployed people, both those who never got a job and those who lost one, have started driving vans and rickshaws, often covering their faces with masks. From narrow alleys to major roads in the capital, many battery-operated rickshaw drivers belong to this group. Their reckless and aggressive behavior is being felt firsthand by traffic police. The exact number of battery rickshaws in Dhaka is unknown, as there is no central registration or licensing system, allowing anyone to enter this work at will. Effective control is practically impossible.
This crying mass of visible and invisible unemployed is spreading to other cities as well. The sheer number of people wandering aimlessly in factories or unemployment hubs is almost impossible to count, let alone control. Unemployment, inflation, and the sluggishness of the private sector are negatively affecting the country’s macroeconomy.
Meanwhile, inflation has exceeded wage increases, complicating the situation further. In villages, local shops selling food and clothes are struggling as people cannot pay for essential goods. These shopkeepers are also facing the consequences of unemployment, and some are turning to odd jobs, adding to economic chaos and rising social disorder.
Regrettably, Bangladesh suffers from educated unemployment. A huge number of young people, having completed higher education, are suffering from frustration due to lack of employment. This is not only a personal or familial problem but a profound blow to the entire state and society.
The government alone cannot remedy this damage. Many have been attempting BCS, bank, or other government and private sector employment exams for years without success, leaving them mentally distressed. This also hampers the country’s development process. The private sector was expected to provide relief, but after years of struggle, it has been in decline for several months.
Without investment, recruitment is impossible. One after another, factories in industrial areas are shutting down, and workers are being laid off. The private sector, which generates nearly 95% of employment in Bangladesh, is in severe crisis. If mills and factories had been kept running and production maintained, the current situation could have been avoided.
The author is a journalist, columnist and the Deputy Head of News at BanglaVision
