The labor force participation rate in Bangladesh fell to 43.9 percent in the fourth quarter of 2019, according to government data.
That’s down from the previous record low of 45.7 percent in December.
The labor force dropped by 1.4 million people in the quarter, while the labor force share in the total population fell to 45.3 percent.
That means that fewer people are working in the country, and that means that the overall number of jobs in the economy is also falling.
The country’s unemployment rate stood at 9.9 per cent, up from 9.8 per cent a year earlier.
That compares with a 7.4 per cent drop in the unemployment rate for the same period a year ago.
The overall unemployment rate has remained above 8 per cent for more than a decade.
The Bangladesh government said last month that the government had no plans to raise wages in response to the labor slowdown, although it has proposed a measure that would increase minimum wages.
Bangladesh’s labor ministry has said it is monitoring the country’s labor market closely and will make decisions based on market conditions.
