New national policy envisions 30m jobs by 2030
The number of unemployed and disguised unemployed people is about 2.7 million and 12.5 million respectively
The government has formulated the National Employment Policy 2022, identifying a number of challenges including absence of public and private measures that hinder the creation of skilled personnel.
The policy, the first of its kind that has recently been finalized, also aims to create about 30 million fresh jobs by 2030 and thus keep the unemployment rate at its lowest level by 2041.
The Employment and Labour Ministry on July 14 last issued a gazette notification in this regard.
It found insufficient information regarding sector wise demand and supply of skilled workers as one of the major challenges to generate skilled workers.
The other challenges or obstacles included lack of literacy and knowledge of language, non-prioritizing the experience or knowledge gained from vocational and stipend education and training in time of job appointment, and inadequate sector wise technology-based modern training facilities.
According to the policy, the number of unemployed and disguised unemployed people is about 2.7 million and 12.5 million respectively while more than 60 million people are capable of working.
Formal sectors can create employment for only 15% of people while 85% work in the informal sector, it said.
About half out of the 60 million are women and the majority of them are unemployed, it said adding 33% of them work in the informal sector with nominal payment.
It is necessary to utilize the capable workforce by turning them into skilled and professional ones through education or training to achieve vision 2021 and 2041, the policy also stated.
It further said that to achieve the Sustainable Development Goals (SDGs) by 2030, each year 1.84 million people need to be employed in the country while another 0.5 million outside the country.
It also outlined some sectors based strategy for agriculture, manufacturing, tourism, ICT, health, port and maritime, informal and other potential ones.
An effective labour market information system would be developed to publish related information in line with the local and global demands each five years.
The aim of the policy is to encourage men and women for productive employment according to their desire and to develop a skilled workforce which would be able to face the global competition and ensure a poverty-free and unemployment-free society, said a labour ministry official.