Bangladesh’s economy expanded by more than 50 percent between FY2015-16 and FY2023-24, yet employment rose by only 11% —raising concerns of “jobless growth.”
At a discussion hosted by Unnayan Shamannay in Dhaka, Research Director Abdullah Nadvi noted that while GDP grew fivefold, employment increased only marginally. He argued that foreign direct investment (FDI) is not a cure-all, citing that $51 billion in FDI over a decade created just 546,000 jobs, compared to 2.8 million generated by $106 billion in domestic investment.
Sectoral imbalances were also highlighted. Agriculture saw a 30 percent rise in workers despite only a 10% production increase, depressing incomes. In industry, GDP share climbed from 33% to 38%, but jobs fell by 1% annually due to automation. Services, meanwhile, grew 6% in GDP but just 1% in jobs, with 68% of workers employed informally.
Other experts echoed concerns. Researchers warned that over-reliance on market forces and a single industrial sector, coupled with skills gaps among graduates, corruption, and defaulted loans, are worsening the employment crisis. They called for stronger domestic investment, education reform, and policy interventions to align growth with job creation.
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