Over 60% of graduates in informal work, earning 45 to 84% less: World Bank

More than 60% of people in Bangladesh educated to bachelor's degree level or above are now engaged in informal work. The picture comes from a World Bank report. According to the report, these educated workers in the informal sector earn 45 to 84% less than workers in the formal sector.

The report is titled 'Demographic Change in South Asia: From Tailwinds to Headwinds for Development'. It presents worrying information about educated unemployment and the employment situation in Bangladesh.

According to the report, job growth in Bangladesh's formal sector is slow. About 84% of the country's total working population is employed in the informal sector. The report's account notes that this sector offers no guarantee of job security, suitable wages or labour rights.

The report said a large share of highly educated people, unable to find work matching their qualifications, are forced to work in the informal sector for lower pay.

The report warned that the proportion of working-age people in Bangladesh will reach its peak in 2045. After that, the country will move rapidly towards an ageing society.

Against this backdrop, the report said the state must take far-reaching initiatives now, without delay, to face the crisis.