Nearly 29% of highly educated youth in Bangladesh are unemployed.
On the other hand, nearly half of the highly educated employed population is engaged in professions where their educational qualifications and skills are not being properly utilized.
This information came to light in a report by the International Monetary Fund (IMF).
This picture was highlighted in the IMF's Regional Economic Outlook: Asia and Pacific report, released at a press conference held on October 15 at the Queen Sirikit National Convention Center in Bangkok, Thailand.
According to the report, the overall youth unemployment rate in Bangladesh is 12% to 13%.
However, the situation is even more alarming for highly educated youth.
Due to a mismatch between the quality of education and the demands of the labor market, many young people are unable to find jobs corresponding to their qualifications.
The IMF report stated that nearly 50% of highly educated working professionals in Bangladesh are working in low-tier occupations relative to their qualifications.
A major reason for this problem is the gap between skills acquired from educational institutions and the requirements of employers.
Consequently, many are forced to engage in work that is inconsistent with their training and educational qualifications, which is also limiting the country's economic productivity.
The report also cited the dominance of the informal sector as a labor market weakness.
Many workers employed in agriculture and other informal sectors lack formal employment contracts, job security, and opportunities for career advancement.
As a result, conventional unemployment statistics do not fully reflect the actual uncertainty of employment.
According to IMF projections, the working-age population aged 15 to 64 in Bangladesh will increase by about 10%-12% between 2025 and 2035.
To translate this demographic potential into economic strength, creating productive and quality employment is essential.
The organization particularly emphasized expanding new job opportunities in the manufacturing and service sectors.
The report also highlighted the impact of Artificial Intelligence (AI) on the labor market in Asia.
Recruitment demand in occupations highly exposed to AI has decreased by about 10% compared to less affected professions.
However, the demand for workers with specialized AI-related skills is increasing.
The IMF warned that without aligning workers' skills with technological shifts, Bangladesh's employment crisis could worsen.
To address this situation, adopting strategies focused on skill development, enhancing labor market capacity, and creating future-ready employment is crucial.