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International Monetary Fund. Asia and Pacific Dept

is critically important to ensure that workers in RMG continue to improve their skills so that they will be able to operate more sophisticated machinery which will increase productivity. Share of Employment in RMG (In percent of total) Source: Bangladesh Labor Force Survey. Employment in RMG (In thousands) Sources: Bangladesh Labor Force Surveys. 7. The RMG industry in Bangladesh will need to be competitive without reliance on low wages . Minimum wages in Bangladesh are no longer below peers. The strategy to maintain competitiveness must

International Monetary Fund. Asia and Pacific Dept

to address the economic fallout of the pandemic – including through implementation of the stimulus packages of Tk. 1.9 trillion and monetary expansion – have helped, reviving potential growth would require decisive reforms to address structural issues. 16 Based on the latest Bangladesh labor force survey, female and male unemployment rate (age 15–24) in 2017 is 16.8 percent and 10.8 percent, respectively, while total unemployment rate (age 15+) is 4.4 percent. See: https://www.ilo.org/shinyapps/bulkexplorer38/?lang=en&segment=indicator&id=EAP_2EAP

International Monetary Fund. Asia and Pacific Dept

-2001); Taiwan, POC (1982-97); Thailand (2001-05) Change in Unemployment Rate, 1995-2005 1 (Percentage points) Sources: OECD, Employment Outlook ; CEIC Data Company Ltd; Bangladesh, labor force surveys; and IMF, WEO database. 1 Values in parentheses give the latest unemployment rate. 2 Since 2001, individuals who are not looking for a job because they are discouraged are counted as unemployed. While this introduces an upward bias, the increasing trend in unemployment is robust to the change in methodology. 3 Data coverage: 1996-2003. 4 Urban. 5

International Monetary Fund. Asia and Pacific Dept

improvements have been made in reducing infant and child mortality, Bangladesh is behind in meeting MDG targets on proportion of malnourished children. Employment Employment provides the key link between economic growth and poverty making it the major instrument for poverty reduction in Bangladesh. Labor force (age 15 +) in Bangladesh increased from around 19.7 million in 1974 to 49.5 million in 2006, the latest available year for Labor Force Survey (LFS). That gives an annual long term trend growth rate of 2.9 percent ( Figure 1.2 ). The labor force growth rate was

International Monetary Fund. Asia and Pacific Dept

fundamental task of the Sixth Five Year Plan is to develop strategies, policies and institutions that allow Bangladesh to accelerate growth and reduce poverty. An essential pre-requisite for rapid reduction of poverty is to attain high economic growth such that it provides the foundations for sustainable productive employment and incomes for the growing Bangladeshi labor force. As is evident from international experience, productive employment is the most potent means of reducing poverty on a sustained basis. But this is not easily achieved. This requires strategies and

Ms. Louise Fox, Cleary Haines, Ms. Jorge Huerta Munoz, and Mr. Alun H. Thomas

Angola Projected Bangladesh 2010 Bangladesh Labor Force Survey Benin 2003 Questionnaire des Indicateurs Base du Bien-être (QUIBB) Bolivia 2008 Encuesta Continua de Hogares Botswana 2009/10 Botswana Core Welfare Indicators (Poverty) Survery Burkina Faso 2005 Questionnaire des Indicateurs Base du Bien-être (QUIBB) Burundi Projected Cambodia 2008 Cambodia Socio-Economic Survey Cameroon 2001 Enquête Camerounaise Auprès des Ménages (ECAM-II); 2007 Enquête Camerounaise Auprès des

Ms. Louise Fox, Cleary Haines, Ms. Jorge Huerta Munoz, and Mr. Alun H. Thomas
Estimates of the current and future structure of employment in sub-Saharan Africa (2005–20) are obtained based on household survey estimates for 28 countries and an elasticity-type model that relates employment to economic growth and demographic outcomes. Agriculture still employs the majority of the labor force although workers are shifting slowly out of the sector. Sub-Saharan Africa’s projected rapid labor force growth, combined with a low baseline level of private sector wage employment, means that even if sub-Saharan Africa realizes another decade of strong growth, the share of labor force employed in private firms is not expected to rise substantially. Governments need to undertake measures to attract private enterprises that provide wage employment, but they also need to focus on improving productivity in the traditional and informal sectors as these will continue to absorb the majority of the labor force.
International Monetary Fund. Asia and Pacific Dept
The Sixth Five Year Plan, as outlined in Bangladesh's Poverty Reduction Strategy Paper, targets strategic growth and employment. The medium-term macroeconomic framework plan entails the involvement of both the private and public sectors. Human resources development strategy programs reaching out to the poor and the vulnerable population, as well as environment, climate change, and disaster risk management, have been included in the plan. Managing regional disparities for shared growth and strategy for raising farm productivity and agricultural growth have been outlined. Diversifying exports and developing a dynamic manufacturing sector are all inclusive in the proposed plan.