Jobless growth a troublesome matter: Muhith

[bluesky]

Jobless growth a troublesome matter: Muhith
Published: July 08, 2018 21:30:50

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, as per a report on bdnews24.

"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.

 

[Michael Corleone]

Is creating jobs a responsibility of finance minister? Curious

 

[EasyNow]

Its not a difficult riddle, despite not enough new jobs created there are no candidates for agriculture because young people are not interested in farming. As people are getting more educated they expect to work in the corporate or civil services.

Agriculture needs to be made more attractive and given better status as it is the backbone of of the nation. I hope that once the transport situation is better people will move out of the cities and take on different kinds of work.

Tbh, there is also an entire chunk of people in BD sitting idly with no interest in doing anything. Neither they want to farm their parents land nor they want to train for other jobs.

 

[bluesky]

Its not a difficult riddle, despite not enough new jobs created there are no candidates for agriculture because young people are not interested in farming. As people are getting more educated they expect to work in the corporate or civil services.

Agriculture needs to be made more attractive and given better status as it is the backbone of of the nation. I hope that once the transport situation is better people will move out of the cities and take on different kinds of work.

Tbh, there is also an entire chunk of people in BD sitting idly with no interest in doing anything. Neither they want to farm their parents land nor they want to train for other jobs.

1) Thing is the agriculture production volume is not being hampered although many young people shun the farming. So, farm production will not rise even if they work in the fields. This is, therefore, is called 'Disguised unemployment', whereby people work but do not produce any extra goods.
2) What other jobs are there in the country when there are almost no manufacturing factories where millions can be fruitfully employed. BD imports almost all its manufacturing goods from China and India. BD is creating jobs in those countries.
3) There is almost no training facilities in the country. Even if they exist where the people will seek jobs when there are only a few factories?

 

[EasyNow]

1) Thing is the agriculture production volume is not being hampered although many young people shun the farming. So, farm production will not rise even if they work in the fields. This is, therefore, is called 'Disguised unemployment', whereby people work but do not produce any extra goods.
2) What other jobs are there in the country when there are almost no manufacturing factories where millions can be fruitfully employed. BD imports almost all its manufacturing goods from China and India. BD is creating jobs in those countries.
3) There is almost no training facilities in the country. Even if they exist where the people will seek jobs when there are only a few factories?

Well the ministers own words suggest there is a shortage of labour in agriculture, which means that production volume is being hampered - or that existing manpower is overstretched, either way this means more labour is a necessity - so it is not disguised unemployment.


I think you misunderstand the powers of a government. You want govt to create lakhs of manufacturing jobs out of the blue - if it was that easy, there would be no unemployment in any country.

The govt is doing its part by opening EPZs, removing tariffs and import taxes. Bd is a free market and the public can start factories for any item they want - and hundreds of people are doing just that. One day these businesses will be strong enough to replace Chinese suppliers - but you want results yesterday.

A manufacturing economy needs power, infrastructure, stability and trained labour. Each and every one of these factors is being worked on in BD, but it will not happen overnight - so your complaints seem a little far fetched.

 

[bluesky]

So, can I ask you if a govt. can force people to work in the farms even if there are shortage of hands in agriculture? It is a big NO unless it is a communist country.

You are implying that i suggested the govt. should build manufacturing factories. But, did I say it? Rather, the private industries to build these where people will/can be employed and produce goods.

Did I ever say all the manufacturing factories will be built overnight? However, the point is unemployment figures cannot be reduced without building many millions of factories.

 

[nang2]

if there is growth, there is extra wealth. if no net job increase, it means the extra wealth is not spent in the country. so what is preventing this expenditure?

 

[bluesky]

if there is growth, there is extra wealth. if no net job increase, it means the extra wealth is not spent in the country. so what is preventing this expenditure?

I believe the foreign trade itself causes a growth in GDP and employment but with a limit. The economy grows until the exports as well as the imports grow. BD foreign trade is quite large at $90 billion or more. The export trade causes activities in manufacturing (mostly textiles in BD), packaging industries, warehousing, and transportation in most cases. And the import causes activities in transportation, warehousing, distribution, wholesale and retail sales.

Accompanied by remittances, money earned through exports is now being circulated throughout the country that create a certain level of economic activities and employment.

But, foreign trade has a limit of creating new employment continuously because the efficiency slows down after a certain period. The growth in employment will continue until the foreign trade expands. But, the new effective and major employment can only be created when many manufacturing industries are set up in the country. I think there is no alternative to it.

 

[Mage]

Well the ministers own words suggest there is a shortage of labour in agriculture, which means that production volume is being hampered - or that existing manpower is overstretched, either way this means more labour is a necessity - so it is not disguised unemployment.

Agriculture sector takes up to 40% of our labor participation. While it only generates <15% of our GDP. Employing more in manpower in agriculture is not likely to boost production. Rather we should move people from agriculture sector, train them to attain some skill and arrange employment for them somewhere else. We need to shorten our labor force in agriculture to like 20%. When the country was very poor more than 70% of the labor force were in agriculture sector. Now the country is doing well. Labor percentage there has gone down and going. What is necessary now is to create industries in the country.

 

[asgur]

Couldn't resist

https://www.facebook.com/video.php?v=2446053672102539

 

[EasyNow]

Agriculture sector takes up to 40% of our labor participation. While it only generates <15% of our GDP. Employing more in manpower in agriculture is not likely to boost production. Rather we should move people from agriculture sector, train them to attain some skill and arrange employment for them somewhere else. We need to shorten our labor force in agriculture to like 20%. When the country was very poor more than 70% of the labor force were in agriculture sector. Now the country is doing well. Labor percentage there has gone down and going. What is necessary now is to create industries in the country.

I dont disagree agriculture labour is not a long term prospect, I was replying to @bluesky's comment that agriculture jobs are not real jobs (disguised unemployment), when they clearly are.

Once machinery becomes common, labour need will be drastically cut in this sector - but it's still a fact that there is available work right now that people aren't interested in doing. Particularly in a country where begging is commonplace.

So, can I ask you if a govt. can force people to work in the farms even if there are shortage of hands in agriculture? It is a big NO unless it is a communist country.

You are implying that i suggested the govt. should build manufacturing factories. But, did I say it? Rather, the private industries to build these where people will can be employed and produce goods.

Did I ever say all the manufacturing factories will be built overnight? However, the point is unemployment figures cannot be reduced without building many millions of factories.

Well factories are being started more than ever and ultimately we may have millions of factories (for good or bad) - so it is going in the right direction - wouldn't you agree?

I dont think theres harm in keeping a diversified workforce too, agriculture, craft, service industry will always be there. Why should people just sit around waiting for the factories to change their lives.

 

[bluesky]

I dont disagree agriculture labour is not a long term prospect, I was replying to @bluesky's comment that agriculture jobs are not real jobs (disguised unemployment), when they clearly are.

I think you have a perception problem in both English and the issue of employment. Stupid, when did I say agriculture job is not real job? Why do you misinterpret what I said? Read the post again and talk. You do not at all understand the term "Disguised Employment".

It was not coined by me. It is an economic term. It says of a situation whereby, say, 15 people work to produce a ton of goods that can be produced by only 10 guys. So, the 5 extra guys have "Disguised employment". Learn the basics of economics and talk fator fator.

 

[EasyNow]

I think you have a perception problem in both English and the issue of employment. Stupid, when did I say agriculture job is not real job? Why do you misinterpret what I said? Read the post again and talk. You do not at all understand the term "Disguised Employment".

It was not coined by me. It is an economic term. It says of a situation whereby, say, 15 people work to produce a ton of goods that can be produced by only 10 guys. So, the 5 extra guys have "Disguised employment". Learn the basics of economics and talk fator fator.

Read your own post - you said 'disguised unemployment' - don't use phrases you don't even understand.

And I explained to you why this doesn't apply here, was it too much to comprehend or does it clash with your already made up mind?

 

[UKBengali]

Read your own post - you said 'disguised unemployment' - don't use phrases you don't even understand.

And I explained to you why this doesn't apply here, was it too much to comprehend or does it clash with your already made up mind?

Do you not know the poster you are engaging with does not have a grasp of basic English?

 

[bluesky]

Read your own post - you said 'disguised unemployment' - don't use phrases you don't even understand.

And I explained to you why this doesn't apply here, was it too much to comprehend or does it clash with your already made up mind?

Stupid idiot, all your other posts have also zero contribution. You are now finding fault in coma, full stop, semi colons, and typo mistakes in other people's post, idiot monkey. It is "Disguised Unemployment". But, do you have any knowledge about it when you are still feeding on your mother's milk. Never seen a stupid like you. Get lost!!! And only come back to a discussion forum when you have grown your baby teeth.