Jobless growth a troublesome matter: Muhith

FT ONLINE

The economy is struggling with a worrisome issue which is jobless growth, said a senior minister on Sunday.

“The country is facing a big problem, which is jobless growth,” said Finance Minister AMA Muhith at an event in Dhaka on Sunday.

Jobless growth is a situation where the economy grows but generates very few jobs, much less than the potential.

Muhith highlighted the mismatch between figures of the national statistical agency BBS and the situation on the ground.

"It appears like a riddle to us that people are not available for agricultural work or at any other times. That means everyone is busy. In contrast, the BBS reports that the country has had jobless growth and unemployment has risen.”

Muhith urged non-government economic research agencies, including Policy Research Institute and Centre for Policy Dialogue, to organise a debate over the jobless growth.

Earlier, many economists feared that Bangladesh might face the risks of middle-income trap and jobless economic growth, which is not sustainable.