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Labor and Wages in Bangladesh: Trends, Challenges, and Policy Implications

Author Affiliations

  • 1International Islamic University Chittagong, Kumira, Shitakundu, Chattogram, Bangladesh

Int. Res. J. Social Sci., Volume 12, Issue (3), Pages 66-74, October,14 (2023)

Abstract

This review article examines the trends and challenges in labor and wages in Bangladesh, providing valuable insights into the dynamics of the labor market and its implications for workers and the economy. The study begins with a comprehensive background on the labor market in Bangladesh, including its size, significance, and historical development. It highlights key sectors and industries employing a significant labor force and provides an overview of the wage structure and labor conditions in the country. The review objectives focus on identifying the key issues and challenges related to labor and wages in Bangladesh, addressing gaps in the existing knowledge, and contributing to a better understanding of the labor market situation. The study emphasizes the significance of studying labor and wages in Bangladesh, discussing the socio-economic implications of labor market dynamics and wage trends. Furthermore, it underscores the importance of evidence-based decision-making and the role of the study in informing stakeholders, policymakers, researchers, and the public. The article conducts a comprehensive literature review, discussing existing studies on labor and wages in Bangladesh, key theories, frameworks, and identified gaps in the literature. The methodology section outlines the research design, data collection methods and sources, variables, and data analysis techniques used in the study. The findings highlight the historical overview of labor market development, wage trends over time, employment patterns, and the impact of globalization and international trade on labor and wages. The article also addresses challenges in the labor market, such as the informal labor sector, gender disparities, labor rights, and the importance of education and skills development. Moreover, the study explores factors influencing labor and wages, including government policies, trade unions, foreign direct investment, and technological advancements. It discusses their implications for labor market dynamics, wage levels, and employment opportunities. The review concludes by providing policy implications for labor market reforms, strategies to address wage disparities and improve labor conditions, and the importance of social protection and safety nets. It emphasizes the need for enhancing skills and promoting entrepreneurship to create a competitive labor force. Overall, this review article contributes to the existing knowledge on labor and wages in Bangladesh, identifies research gaps, and provides recommendations for policymakers, stakeholders, and researchers to create a more inclusive and sustainable labor market.

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