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Recruitment in Bangladesh’s private sector almost ground to a halt over the past 12 months, primarily due to the absence of fresh investment and reinvestment by employers, reports the Financial Express Bangladesh.
According to private sector insiders, the recent political impasse and unfavourable developments in businesses have severely affected the growth of the private sector and prompted entrepreneurs to be cautious about making further investment. The result has been a stagnation in the normal recruitment activities of the sector.
Fahim Mashroor, Chief Executive Officer of online job board BD.Jobs, commented: “In the last one year, new recruitment in the country’s private sector has shown a downtrend (sic) due mainly to the unstable political situation.”
He added that the industry reported an average annual growth rate of +25% in the recruitment sector between 2009 and 2012, however 2013 reflected a negative trend.
Humaira Sharmeen, Head of Operations at online job board Prothom-alojobs, said that recruitment during 2013, at both local and foreign companies, had experienced difficult conditions due to political uncertainty and frequent strikes.
Data from the Board of Investment (BoI) shows that overall employment fell by -42% during 2013, compared with 2012. The country’s private sector created an estimated 129,000 jobs in 2013, compared with 300,000 in 2012.