The Unemployment rate of Bangladesh attained a value of 4.87 % in 2024
The indicator recorded a historical change (bps difference) of 94 bps between 2021 to 2024, and is expected to decline by...
GlobalData projects the figure to change by 52 bps between 2025 and 2029, reaching...
Unemployment
Unemployment refers to individuals that are actively searching for a job opportunity but are unable to secure a job. Unemployment is measured by the unemployment rate, which is calculated by dividing the total number of unemployed people by the total number of people in a specific region or workforce. It is one of the most significant indicators of the economic status of a country.
Global Unemployment
The global unemployment rate increased to 6.5% in 2020. The number of unemployed individuals in the world increased by 33 million, reaching 220 million in 2020.
The International Labour Organisation anticipated that the global unemployment rate will be 5.7% in 2022 with an estimate of more than 200 million unemployed people around the world, which will continue to be higher than the pre-COVID-19 levels in 2019.
Unemployment Rate in Bangladesh
Between 2018 and 2021, Bangladesh's unemployment rate was highest in 2020, reaching 5.3%. The unemployment rate fell from 4.29% in 2018 to 4.22% in 2019 but rose again in 2020. In 2020, a significant headcount reduction was achieved in March 2020, due to the suspension of various non-critical activities, especially in hospitality.
Many employment opportunities revived between April and August 2020, but there was a high level of uncertainty among employers. However, deregulation and government support reduced the unemployment rate to 5.21% in 2021. As more jobs are created, the unemployment rate is expected to drop further to 5.01% in 2022. Between 2018 and 2021, Bangladesh’s unemployment rate grew by 18.1%. The unemployment rate decreased by 3.7% in 2021 year-on-year.
Factors that Impact Employment
Some of the major factors that impact unemployment in a country include recession, government policies, geographical labor mobility, technological advancements, global economy, rising population, and education, training & skill development of people.
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