Don’t let our youth waste away

It is gravely concerning that a large number of university graduates in the country are unable to secure decent jobs, many for years on end. According to a recent report by Bonik Barta, nearly 19 lakh students graduated from public and private universities between 2021 and 2023, but a significant number of them remain unemployed. In fact, according to a 2019 World Bank report, one in three graduates remain unemployed for at least a year or two following graduation. For that, lack of work is not the only major reason.
True, the country’s job market, rather than expanding to accommodate a larger workforce, has been shrinking due to domestic and international stresses on our economy. But the above report quotes industry insiders who have identified another key reason—a severe lack of skills due to inadequate, outdated education—as a major barrier to recruiting fresh graduates. For example, according to the 2022 annual report of the University Grants Commission (UGC), an average of around 12,000 computer science and information technology students graduate every year, but only around 5,000 get recruited partly because employers cannot find workers skilled enough to meet their needs. The skills issue was also highlighted in an analysis of the Asian Development Bank that found that as many as 80 percent of jobseekers fail in basic coding, English and maths tests despite having passed such courses at university.
Clearly, there is a disconnect between the skills our universities provide and the demands of the ever-evolving job market. It is astounding that none of the past governments have taken meaningful actions to address this gap. Our universities, both public and private, need proper investment and curriculum upgrade so that they can produce graduates competent enough to take on the challenges of the job market and advance our economy.
According to the Labour Force Survey 2022, only 25.41 percent of workers with tertiary education are employed in the formal sector. In a country that is preparing to graduate to the developing country status in two years, this cannot be acceptable. If we want to make our mark in the world and outperform our competitors, we must put greater emphasis on upskilling our youth and properly utilise their skills. As Bangladesh heads for a massive transformation in the post-uprising reality, investment in quality education and vocational and technical training is a must-have to build a more productive youth labour force. Expanding the job market to accommodate more graduates must also happen simultaneously.