Dhaka:Bangladesh's economy is undergoing rapid transformation, outpacing the adaptation capabilities of its labor market. To address this issue, experts emphasized the necessity for the creation of quality jobs, expanded opportunities, and workforce preparation for technological advancements during a book launch event at BRAC University on Tuesday.
According to United News of Bangladesh, the event, hosted by the Department of Economics and Social Sciences, featured the launch of "The Labour Market in Bangladesh Emerging Challenges, Future of Work, and Policy Direction," authored by Professor Farzana Munshi. The book compiles significant labor market challenges and explores their implications for Bangladesh's future workforce.
The publication highlights ongoing issues such as widespread informality, youth and graduate unemployment, skills mismatches, and gender disparities. It also addresses emerging challenges posed by technological change, automation, and artificial intelligence. The book argues that enhancing workers' skills alone will not suffice without corresponding investments and the creation of productive employment opportunities.
Bangladesh must adopt a new employment model prioritizing not only job creation but also the development of better-quality, formal employment to ensure continued economic growth and progress in poverty reduction. Chief Guest Professor Wahiduddin Mahmud warned of the potential for Bangladesh to fall into the middle-income trap, citing mismatches between infrastructure and skilled manpower and between educational output and economic needs.
Professor Mustafizur Rahman highlighted the shift in output towards higher-value sectors without a corresponding increase in employment, complicating inclusive growth efforts. Dr. Fahmida Khatun stressed the importance of focusing on job quality to enhance productivity and economic opportunities for all groups.
Professor A. K. Enamul Haque discussed the impact of AI and automation on the nature of work, emphasizing the continued importance of human creativity and critical thinking. He advocated for educational reforms to prepare individuals for the evolving labor market.
The discussion, moderated by Professor Wasiqur Rahman Khan, aligned with Sustainable Development Goals 4, 5, and 8, underscoring BRAC University's dedication to research influencing national policy and education that equips graduates for future work challenges.