Contemporary State of Unemployment of Bangladesh: A Critical Analysis

Unemployment is a serious intimidation towards the national development and economic growth of developing countries like Bangladesh. For developed countries, it is a blockade to the means of ensuring sustainable development. This work quintessence on the current situation of unemployment in Bangladesh. This study aims to sermon the current state of unemployment in an exploratory manner bearing in mind its detrimental magnitude on the economy of Bangladesh. The study also intentions to recommend some way out to get rid of the unemployment syndrome in a profligate and operative manner. Definitely 100 samples have been accumulated via purposive method for data collection purpose. Quantitative Method has been applied to the study and data has been collected through survey method from primary and secondary sources.

economic development of the country. The unemployed surplus educated manpower is not a resource, rather a drag on the economy of the country (A. Rashid Ahmed, Md. Ashraf Ali, and Kazi Saleh Ahmed 2015). In Bangladesh, almost all households depend on employment as their primary source of income. This is especially true for the poor households since the only abundant productive resource that the poor have is their own labor. Increasing employment opportunities and raising the returns to labor is therefore the most viable option to reduce poverty and meet the country's human development goals (Bangladesh Bank, 2015). Previous estimates of the effect of unemployment on crime commonly omit determinants of criminal behavior that vary with the business cycle, creating correlation between unemployment rates and the residuals in aggregate crime regressions (Steven Raphael & Rudolf Winter-Ebmer). In Bangladesh, unemployment and underemployment problems arrive due to the lack of effective demand for labor (Murad S. M. Woahid, 2010-11). Unemployment of educated youth has, for quite some time, become a growing concern all over the world. The problem is particularly acute in the developing countries (A.K. Das, IIEP Occasional Paper). The new job creation in the rural sectors remains short of the number of people joining the labour force annually so that there is high rural unemployment, particularly underemployment (National Report on Sustainable Development, 2015). Nearly all of this unemployment is concentrated among young people who are looking for their first job. Unemployment duration is very long with typical spells lasting four years or more (William Dickens & Kevin Lang). Unemployment is the result of the craze among the educated youth for 'white collar jobs'. Lack of education and vocational guidance facilities, are some of the other factors, which contribute to the problem of unemployment (Jitendra KUMAR Dixit, Sanjeev Kumar Gupta & Harshit Gupta) The major problem related to absorbing ever growing population through providing them job opportunities (Dr. Habib-Ur-Rehman, 2015). The work has been carried out to figure out the reasons behind the huge amount of unemployment and this work will give a solid basis to work on the contemporary problems and get the maximum out it.

Research Objectives
 To treasure the major aspects behind unemployment and to suggest some measures to solve it.  To understand the current situation of unemployment of our country.  To know the responsibilities of the Government, the Private and Multi-national companies to minimize the situation.

Methodology of the Study a) Data Sources:
Data has been taken from two different sources  Primary Sources: Undergraduate students, graduated students, job seekers, employed persons.  Secondary Sources: Previous works, books, journals, newspapers, Bangladesh Bureau of Statistics and Websites etc. b) Research Method: This study has been carried out through the Quantitative Research Method where attempt has been made to classify features, count them, construct statistical models. c) Sampling Method: The Purposive sampling method has been used. d) Sample Size: The sample size is 100. e) Data Collection Technique: The data of this study has been collected using the survey method. Data has been collected through questionnaire, direct conversation and internet (social network). f) Data Analysis Plan: Basically statistical tools have been used to interpret observed variables. In this study most of the data are presented in a numerical manner. Some data has been interpreted in a non-numerical manner. The findings of the study will be used in both numerical and non-numerical manner.

Unemployment Rate In Bangladesh:
The unemployment rate in Bangladesh and other countries is defined as the number of unemployed people as percentage of the labour force. The labour force includes the people who are either employed or unemployed, i.e. who do not have a job but are actively looking for one. The unemployment rate of Bangladesh is given below last 5 years: 12.1% And the report is also saying that 1.8 million educated people are underemployed.  Table 01: Shows that 62% of the overall respondents are between ages 22-24. Respondents of this portion are all undergraduates. Age 25 is the mark from where students start to become graduated and go out in the job field. : Suggests that 61% of the total sample is from Business Administration faculty. Data has been collected from various faculties so that we can get a comprehensive idea about the perception of students from different majors.  Table 02: Represents the total number of undergraduate, graduate, illiterate persons who have participated in the study. As undergraduate students are more available than others, so 77%of the data has been collected from the students.    : Shows that 42% respondent prefer government sector jobs more than other sector. The main reason behind this perception is that govt. job provide more prestige and more job facilities.2 nd choice is govt. sector job. Besides, 30% respondents prefer private sector job for higher salary and disciplinary practices. Figure 05: Shows that 92 respondents believe the interconnection between our education system and job market is a major reason behind unemployment. And surprisingly this 84% respondent also suggests that education system should be developed and there should be a connection where "Study should not be for job, Job should be for study". This means a bigger subject specified job market.  Figure 6: Shows that 70% people become disappointed for not only a single factor but also all the factors like mental pressure, family pressure and social criticize as a whole that create an unfavorable situation for people during unemployment.   In this respect, 42% respondents think that necessary skill to do a particular work perfectly is the most important factor to get a job. A large portion of respondents nearly 36 percent marked the minimum level of efficiency as most important factor to get a job.  Figure 09 represents that unemployment has a moderate effect on economy which is 75% according to the response of respondents. For ensuring a sound economy the reduction of unemployment is badly needed.  Hope is that mysterious thing which can keep a person alive and provides confidence to go ahead at the time of difficulties & gives a light to overcome the darkness of coming days. Here, respondents are also hopeful. About 48% respondents predict that the job opportunities will be increased in the next five years and the unemployment problem will be solved within shortest possible time.

Figure 11: Contribution of Different Parties for Overcoming Unemployment Problem
Figure11: Shows the percentages of major contributions of various sectors for overcoming unemployment. Good governance and a better govt. policy can reach to the optimum potential solution of a problem in the long run. 56% respondents give importance on govt. policy as a major contributor for overcoming unemployment.24% respondents select the private, multinational and NGO as major contributor for overcoming unemployment.

Reasons behind Unemployment
Although, Bangladesh is a populous country but it is not being able to gain economic prosperity due to unemployment problems. Some common reasons of unemployment is highlighted below: i.
Lack of proper knowledge about job market: Our country is not technologically advanced like many other countries in the world. In our country we see that most of the do not have proper knowledge about technology. So that, they do not have much knowledge about job markets. iv.
Lack of industrialization: Bangladesh is a developing country. Here most of the people lives below extreme poverty line. So, they do not want to take risk to invest their money in business or industrialization. v.
Lack of entrepreneurship: People always think of doing jobs in offices, banks, or other government jobs. But they do not think about their own business. Or they do not start new business just because of they do not want to take risk. So it is one of the biggest reasons of unemployment. vi.
High Interest Rates: For this reason entrepreneurs are not getting easy loans and job sectors is not explaining and unemployment is on the rise. vii.
Global Recession: Global recession is also responsible for unemployment. Economic activities are narrowing and overall demand for labor is decreasing as a result unemployment is occurring. viii.
Economic Reasons: Old industries close down like jute, coal mining and ship building are causing unemployment. ix.
Inclination to foreign products: Cars, computers, industries are import dependent and people also prefer this imported product as a result job sector opportunity is not expanding in those cases and unemployment is on a rise. x.
Government Economic Policy: If the Government spends less on big projects like roads, schools, hospitals, this means less people are needed to work and unemployment is created. xi.
New Technology: Computers and robots do the work that people need to do as a result unemployment rises. Also there are many other reasons like people aren't able to cope up with the latest technology. xii.
Nature of Production: Seasonal production characteristics is also responsible for unemployment. Industries as well as agricultural sectors requires less employees in slack seasons. xiii.
Nepotism: Due to nepotism, unqualified people are often recruited and these people are unable to add value to the economy and give birth to more unemployment, xiv.
Lack of financial institutions: In comparison with the growing population, the financial institutions aren't rising to fulfill the need of job needed by the unemployed people. xv.
Intense competition in job market: Today many people fight for a single post. This issue is really alarming and acts as the major cause of unemployment. xvi.
Lack of public and private assistance: Lack of public and private assistance is found in creating employment opportunities for the rising population.

Recommendations
The purpose of the study is not only to explore problems but also to provide paths of getting rid of them. So the respondents are asked to suggest some ways through which unemployment can be reduced efficiently and effectively. 1. Avoiding power abuse. 2. Education system should be developed and there should be a connection where "Study should not be for job, Job should be for study. 3. Necessary skills to do a particular work perfectly is the most important factor to get a job. 4. Avoiding nepotism. 5. Mental pressure, family pressure and social criticism should be minimized. 6. Proper management of regulation. 7. Increase transparency in recruitment system. 8. Making a more efficient education system that can provide more job opportunities to the graduates. 9. Organize programs and generate ideas through which young entrepreneurship can be encouraged.
Entrepreneurship will be the possible solution of unemployment. 10. Creating more job fields and take steps to inspire young generation think creatively and not to run after some generalized jobs. 11. It is the responsibility of everyone who participates in a functional society. 12. Unemployment is the responsibility of the individual. We must want to be employed. But some people just do not want to be employed. 13. Unemployment is the moral responsibility of the employer but not the economic responsibility of said employer. The employer is technically first and foremost responsible to stakeholder to produce a profit or an increase in value of the enterprise. 14. Unemployment is the responsibility of the currently employed to try and do their job to the best of their ability, so their organization does not have to create unemployment. Figure out what one is best at and then keep on doing that no matter what. There will be some ups and downs, lots of downs probably. But one should never give up. v.
Creating one's own path and not to always follow others footsteps.

Conclusion
Unemployment is a like cancer to a country's development. It is a huge waste to the human resource. Bangladesh has a huge population but the matter of regret is that most of the people are not a resource. Because of rising inhabitants and comparatively minor magnitude of the economy employment formation is a perplexing undertaking for Bangladesh. Nonetheless, the progression of the economy has not been escorted by sufficient employment creation and the number of jobless people has augmented over the years. One of the inspiring improvements in the employment scenario of the economy has been the proliferation of female involvement in the labor force. The good news is that the Govt. of our country is trying to mitigate the rate of unemployment. To exterminate unemployment, the present Govt. assured to create employment opportunities for 12.8 million people in the next five years. A thousand youths from each upazila will get employment opportunities outside the country as well. Enrichment of economic growth should be at the centre of an employment policy, which will be entwined with the ultimate aim of poverty lessening through employment generation. Conversely, for Bangladesh the major stimulus for improved employment has to come from the private sector. Enhancing growth and employment creation in Bangladesh will of course necessitate deletion of obstacles such as infrastructural tailbacks, institutional faintness and political uncertainty. So, we are hopeful that the job opportunities will be increased in the next five years and the unemployment problem will be downcast within shortest possible time.