Bangladesh 2.0: It’s Time to Address Unemployment Problem For Our Graduates4 min read

On August 5th, 2024, the students of Bangladesh achieved what decades of political protests had failed to accomplish. In a nation where repeated attempts to establish true democracy had been suppressed, the student body successfully toppled the government to pave the way for a more transparent and corruption-free country. Remarkably, this movement did not begin with an agenda to overthrow the government. It initially focused on the reform of the quota system in government jobs.

The government’s decision to reinstate a 30% job quota for the children and grandchildren of freedom fighters sparked widespread protests. While this quota system was the immediate cause of the unrest, the underlying issue was more complex. Bangladesh has been grappling with rising unemployment, a situation exacerbated by the COVID-19 pandemic and the global impact of the Russia-Ukraine conflict. The crisis has been particularly severe for recent graduates.

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According to a report by The Daily Star, the number of unemployed graduates doubled to 800,000 over five years. The Labor Force Survey (LFS) 2022, released by the Bangladesh Bureau of Statistics (BBS), highlighted an increase in the unemployment rate among individuals with tertiary education, rising to 12% in 2022 from 11.2% in the fiscal year 2016-17. Hence, the reinstatement of the freedom fighter quota only added fuel to the fire of this growing unemployment crisis, culminating in an unprecedented revolution.

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To address this escalating unemployment crisis in Bangladesh, a deeper examination of the education sector is crucial. The disconnect between academia and industry needs has become increasingly apparent, revealing a significant skills gap among graduates.

The Skill Gap Conundrum

Bangladesh has been one of the fastest-growing economies in the world over the past decade, primarily driven by industrialization. Yet, the question arises: if industries are thriving, why is there such a high rate of unemployment among graduates?

A report by Channel 24 sheds light on this paradox, revealing that many companies prefer to hire foreign professionals instead of local talent. This preference is largely attributed to a skill gap, suggesting that the country’s education system is not equipping students with the skills required by the job market.

Consider a glaring anomaly within the educational framework. While over 80% of Bangladesh’s exports are derived from the Ready-Made Garment (RMG) industry, the country’s business curriculums often fail to include courses related to this sector. Merchandising, a critical aspect of the RMG industry, is rarely covered in business administration programs, despite the industry’s dominance in the national economy. This example highlights a broader disconnect between academic programs and the sectors driving the economy, compelling industrialists to recruit foreign experts to bridge the gap.

It is important to note that this is not a reflection of a lack of capability among Bangladeshi professionals. Many locals successfully lead multinational companies such as Unilever and HSBC in Bangladesh. This begs the question: if local talent can manage global enterprises, why are these same individuals not filling positions currently occupied by foreign workers?

The Need for Academia-Industry Collaboration

An urgent need exists for a stronger collaboration between academia and industry. Educational institutions must stay attuned to evolving industry trends in Bangladesh and adapt their curricula accordingly. In addition to theoretical knowledge, universities should focus on skill development to enhance employability. Hosting regular seminars with industry experts can provide students with insights into the skills and knowledge required to succeed in various fields. This practice is commonplace in universities abroad and should be adopted by local institutions to prepare students for the workforce.

Universities should also engage in continuous dialogue with industry stakeholders to develop specialized skill courses that enhance students’ competitiveness in the job market. The University Grants Commission of Bangladesh (UGC) must play an active role in facilitating this collaboration, encouraging universities to offer courses and certifications that reflect the dynamic nature of the country’s industries. Aligning academic content with industry demands can significantly reduce the unemployment rate among graduates.

The Role of Students in Shaping the Future

The revolution has elevated students to a pivotal role in shaping the future of Bangladesh. Their efforts in advocating for transparency and justice have garnered international recognition. However, the fight is not over. Students must now turn their attention to the relevance of the curriculum being taught in universities. They need to critically assess whether their education aligns with current industry needs and global trends. If not, they should actively campaign for curriculum reform.

Bangladesh is endowed with a large youth population, offering a unique demographic dividend. However, the potential of this demographic can only be realized if the education system is restructured to meet the demands of a modern economy. Failure to do so could result in the youth becoming a burden rather than an asset to the nation.

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