Demographic dividend must be put to use speedily
As seen in the final report published by Bangladesh Bureau of Statistics (BBS), the population of the country is 169.8 million (169,828,911 or 16.98 crore), 28 per cent of which is consists of youth, that ism 47.4 million (4.74 crore).
About 62 per cent of the total population is of working age, aged between 15 to 59 years. And, that’s 105 million.
Youth comprising such a huge percentage of the total population would be considered a huge opportunity for any country if every working age citizen of that country can be provided suitable jobs. Especially, if youths entering the job market every year can be put to proper use.
Hong Kong, Singapore, South Korea and Taiwan have been able to achieve astonishing economic development taking advantage of demographic dividend in the 60s and 90s o the last century.
Experts believe it’s high time for Bangladesh to utilise this demographic advantage for this won’t stick around for long. With the rise of life expectancy the number of senior citizens will go up as well.
The question is how this huge number of youth can be put to use? Mustafizur Rahman, distinguished fellow of Centre for Policy Dialogue (CPD) told Prothom Alo, that the young community of the country has to be trained in keeping with current market demands.
Youths have to put emphasis on digital technology and technical education to adapt to job market keeping the Fourth Industrial Revolution ahead, he added.
At present working-age labour force in the country exceeds non-working-age labour force. But, we won’t be able to utilise that if we can’t provide these youths with suitable jobs as per their demand.
In Bangladesh, the literacy rate has increased and the number of educated youth is a lot higher as well. While, 2.2 to 2.3 million youths are entering the job market every year we are failing to provide them job as per demand.
According to International Labour Organization (ILO) data, Bangladesh has the second highest educated unemployment rate in the Asia-Pacific region.
Government surveys also show that unemployment rate among educated youth is higher than that among uneducated youth. As much as 29.8 per cent of youth with secondary education are unemployed while this rate among youths not having secondary education in 13.4 per cent.
If we can utilise this vast number of youth, then Bangladesh too can wish for development like Singapore, Taiwan and South Korea.
And if we can’t provide this massive young community, a major portion of who are educated, with suitable employment, it will not only hinder the country’s development but also make the youth frustrated.
A section of the youth is already engaged in crime and drugs, which is extremely alarming for the country.
So the major reason of not being able to utilise the demographic dividend is our tertiary education system, which is failing to meet the demand of the era. However late, the government has taken an initiative of making the education system up to date by identifying its weaknesses.
It’s unwarranted that educated youths of the country won’t get jobs and skilled employees have to be brought in from abroad to run industries, trade and commerce. What are we teaching then?
State minister for planning Shamsul Alam said that the government’s main target is to create employment for youths. But how much of that goal will be achieved and within how much time, future of the youth as well as Bangladesh’s overall development and progress will be depending on that.