Unemployment is not the fate of only those who are uneducated. An increasing number of educated youths are also finding it hard to land a job. This is the finding of the Center for Education Research (CER). Around 47 per cent of graduates remain unemployed in the country, according to a CER survey. Some 63 per cent youths interviewed by CER do not know their goals while 82 per cent of them are worried about their future.
Although we cannot vouch for the accuracy of the findings of the survey but that educated unemployment is increasing is a common perception. Thanks to the gradual expansion of education opportunities and easy availability of higher education, the number of educated youth is rising exponentially. But after graduation many educated youths don’t find a job or don’t have the kind of jobs they deserve or are capable of. Their parents spent their life savings educating their offspring and yet they find no job.It needs to be mentioned that our labour market, especially that of the formal sector, is not robust enough to cater to the large number of graduates our universities and colleges are churning out each year. So the solution to the unemployment problem lies in more economic growth. If we cannot grow as a robust economy, we will not be able to provide enough jobs for youth. At the same time, if we cannot equip our youth with employable skills and put them to work, the economy will not grow at the desired pace. So, a lot of things depend on harnessing youth potential and managing the economy better.
However, the bitter truth in this competitive world is that only university degrees cannot guarantee a decent job. Skill development is the key. Ironically when our youths are running from pillar to post for a job, foreign nationals working in Bangladesh are taking home around USD five billion a year. This is because of the lack of skilled human resource in the country. The situation calls for the universities to analyse the ever changing demands of the market and educate and prepare professionals accordingly.