Educated unemploy-ment is worrying

ECONOMIST Intelligence Unit of the famous British journal Economist in a report analysed by Prothom Alo reveals that 47 percent of graduates in Bangladesh are jobless. This is the highest unemployment figure among the educated in South Asia, next only to Afghanistan.
Add to this the overall figure of 22 lakh entering the job market in Bangladesh every year with only 7 lakh getting any job. So, at 14.2 percent unemployment rate, six crore will be jobless by 2015. Leave aside more than one crore six lakh daily wage earners eking uncertain living.
But if we were to raise the unemployment figure only by 2 percent, the GDP growth rate could have reached 8 percent. Conversely, rising unemployment is a big drag on the economy and even on the society in that frustrated youth are susceptible to evil influence of drugs and violence. With job generation, productivity and wealth creation awaiting the much-needed push, the newcomers are mere headcounts. But they shouldn't have been a liability if they could be turned into manpower in tune with job market requirements both at home and abroad.
Our policymakers should strategise to reap demographic dividends from the burgeoning youth population. This calls for fundamental shift in educational contents and enrolment patterns.
The overarching need is for making critical investments in education, research, technology and development with adequate policy support for assured job creation projecting into the future.