Dhaka, Oct 25 (V7N) — The number of unemployed people in Bangladesh continues to rise, signaling a growing crisis as the economy loses momentum. Despite higher educational qualifications, desired job opportunities remain scarce. The country’s two major employment-generating sectors — ready-made garments (RMG) and remittances — are struggling to maintain stability amid global and domestic challenges.

Entrepreneurs emphasize that reviving the production system is crucial to overcoming the current stagnation, while analysts stress that there is no alternative to developing skilled human resources.

The RMG sector, long regarded as the main driving force of Bangladesh’s economy, is witnessing a decline in production and employment opportunities. Official data shows that over 100 garment factories have shut down in the past year, leaving hundreds of thousands of workers jobless. Although some new factories have opened, they have failed to absorb the displaced workforce.

BKMEA President Mohammad Hatem said, “Against the closure of 100 factories, only 30 new ones are being opened. As a result, it is not possible to create employment opportunities for the large number of workers who lost their jobs. The unemployed are facing an increasingly difficult situation.”

Dr. Hossain Zillur Rahman, advisor to the former caretaker government, described Bangladesh’s economy as standing on two growth pillars — garments and remittances — both heavily reliant on cheap labor. “We must now focus on identifying and developing new growth drivers,” he said.

He added that while there are multiple initiatives aimed at building skilled human resources, few of them have led to sustainable employment. “Employment in manpower and textiles, our two largest job sectors, is declining. Reducing unemployment is not a short-term task — it requires a comprehensive effort to re-energize the entire economy,” Dr. Rahman noted.

Overall economic activities have slowed in recent months, with new investments drying up amid uncertainty. Institutional reforms have also stalled. Analysts warn that unless production and employment generation are restored soon, economic instability and social frustration could deepen further.

END/SMA/AJ