The unemployment rate in Bangladesh had reached a record high to 22.39 per cent in July before coming down sharply to 4.0 per cent in September last, according to the Bangladesh Bureau of Statistics (BBS), the state statistical organisation.
The unemployment rate was only 2.3 per cent just before the Covid-19 pandemic.
The BBS noted that the sharp rise in the joblessness was due to the negative impact of the pandemic on all sectors of the economy.
The rate, however, dropped again to 4.0 per cent in September amid restarting of the economic activities gradually, it has claimed.
When asked, Research Director at the Centre for Policy Dialogue (CPD) Dr GK Moazzem appreciated the BBS's real time survey.
"But the data showing a massive drop in the unemployment rate to 4.0 per cent from more than 22 per cent within two months are questionable," he told the FE.
He questioned how the unemployment rate could drop to only 4.0 per cent from more than 22 per cent when the industrial sector and businesses were still struggling, the credit growth, import of raw materials and capital machinery were witnessing a weak trend and agriculture was affected.
The BBS data showed that the household income declined by 20.24 per cent in August last.
The statistical entity has, for the first time, completed a "Perception Survey on Income and Expenditure" through telephone interview among 2,040 samples across the country during September 13-19 last.
Planning Minister MA Mannan unveiled the BBS survey after a meeting of the Executive Committee of the National Economic Council (ECNEC) in Dhaka on Tuesday.
Mr. Mannan said the Prime Minister had received the survey results and instructed them to share its details with the media.
Although the survey was conducted on small sample base, but this is a very good survey of the BBS in assessing the virus impact on the national economy, he added.
The survey showed that the earnings of each of the households declined to Tk 15,492 in August last, a 20.24 per cent lower than Tk 19,425 in March.
The survey also showed that the average household expenditure also dropped by 6.14 per cent to Tk 14,119 in August last.
In March this year, each of the households in the country had spent Tk 15,403, on an average, as living cost.
During the full or partial shutdown from March to July last, two-thirds of the households across the country had faced the financial crisis, the BBS said.
During this time, some 68.39 per cent of the households faced the financial crisis across the country, it showed.
The government in this period (Apr-Jul) provided relief or financial support to 21.33 per cent of the affected families, the BBS said.
The households having monthly average income of Tk 20,000 obtained the government support.
When asked about the credibility of the survey, Statistics and Informatics Secretary Yamen Chowdhury said, "When a survey sample size crosses 900, that could be considered as a national survey. Since our sample size was 2,040 it must represent a national survey."
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