THE Bureau of Statistics quarterly update on labour force shows an increase in unemployed people to 2.73 million in the fourth quarter of 2024 compared with 2.4 million in the corresponding period of 2023. The document, made public on May 18, also shows a decline in the overall work force to 69.1 million in the 2024 October-December quarter from 71.1 million in the corresponding quarter of 2023, mainly because of a decreased participation of women in the work force. The unemployment rate in the 2024 October-December quarter reached 4.63 per cent compared with 3.95 per cent in the corresponding quarter, as the official document says. Of the overall 69.1 million work force in the fourth quarter of 2024, the update shows 31 million people working in the agriculture sector, 11.6 million in the industrial sector and 25.4 million in the services sector. In the corresponding quarter of 2023, of the overall work force of 71.1 million, as the update shows, 31.7 million people worked in the agriculture sector, 12.4 million in the industrial sector and 26.8 million in the services sector. The figures bring up something to be certainly worried about.
Yet, with the situation appearing worrisome, the fourth quarter of 2024, which was the second quarter of the interim government that was installed on August 8, 2024 after the Awami League government had been overthrown three days before in a mass uprising that had continued since July, was, however, marked by recovery in economic activities at the rate of 4.48 per cent. Official documents in 2024 also sounded a warning about an increase in the number of people not involved in education, employment or training. In view of all this, the situation at hand along with a perceptible absence of adequately effective government plants to reduce the number of unemployed people is worrying. Such a situation would also add to inequality. This is heartening that national statistical office has prepared the quarterly update keeping to the 19th International Conference of Labour Statisticians, beginning in early 2025. A good stocktaking gives the government a good footing to work out plans to mitigate the situation for an effective execution. The government should thoroughly study the situation and then create economic activities on its own and help the private sector to create economic activities and ensure that the benefits should reach the target segments of the population.
The government should, therefore, step up efforts to expedite the economic recovery post the July 2024 uprising when economic activities had almost stalled for months. The government should hear the knell of the alarm bell of an increase in joblessness and act accordingly.
