Abstract
The study has made an effort to analyze the performance of Bangladesh economy in line with the decent work and inclusive economic growth target of Sustainable Development Goals (SDGs) for the period of 2015 to 2019 and to identify the challenges of achieving decent work for all by 2030. Bangladesh has ranked 109 th among the 166 countries and moved seven notches up from 116 th of 2019 in the SDGs Index 2020. Analyzing the International Labour Organization (ILO) modeled estimated data on the decent work indicators like labour force participation rate, employment to population ratio, unemployment rate, youth unemployment, informal employment, child labour and employment in agriculture, industry and service sector, the study reveals that the high youth unemployment, informality in the job market, mismatch between demand and supply of skilled labour, less female participation in the labour force, insufficient investment, participation of child and forced labour in hazardous work, etc. are the major hindrance for ensuring decent work for all. Skill development programs, large scale investment, products diversification, good governance, elimination of child and forced labour from hazardous work, etc. may help to create more employment opportunities, decent work environment as well as inclusive and sustainable economic growth in Bangladesh. Keywords: Decent Work, Inclusive Economic Growth, SDGs, Bangladesh. DOI: 10.7176/JESD/11-16-02 Publication date: August 31 st 2020
Highlights
Bangladesh has attained impressive progress on many economic and social indicators
Bangladesh has ranked 109th among the 166 countries and moved seven notches up from 116th of 2019 in the Sustainable Development Goals (SDGs) Index 2020
Based on the International Labour Organization (ILO) modeled estimated data, the study found that the labour force participation rate of Bangladesh stood at 58.74 percent in 2019 from 56.48 percent of 2015, which is not so promising to achieve the target of inclusive growth as labour force increases at larger rate than participation rate
Summary
Bangladesh has attained impressive progress on many economic and social indicators It has made an upward shift in the average annual growth rate to above 7 percent from Fiscal Year (FY) 2016 to FY2019. The ILO estimated labour force participation rate (percent of total population ages 15-64) of Bangladesh was 61.4 percent in 2019. Youth unemployment remains a substantial problem for the Bangladesh economy In this circumstance, attaining stable economic growth and achieving decent work target of SDGs by the creation of employment opportunities for the large youth population is one of the foremost challenges in Bangladesh. An absence of sufficient employment opportunities, inadequate social protection, the denial of rights at work, and shortcomings in social dialogue can be expressed as an absence of the four goals of decent work. Each country have to take into account it’s economic and social series of immediate, medium and long term goals
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