Impact Of Corona
61pc people lost jobs in Mar-Apr last year: CPD
A recent survey found 61.57 per cent people had lost jobs in March and April last year, due to the adverse economic impact of the Covid-19 lockdown, according to a study by the Center for Policy Dialogue (CPD).
The study also revealed that only 15 per cent could avail a job the following month, while 85 per cent remained unemployed for a longer period.
The results of the study were jointly published by the CPD and Oxfam Bangladesh through a webinar on Wednesday.
CPD Chairman Prof Rehman Sobhan, Distinguished Fellows Prof Debapriya Bhattacharya and Prof Mustafizur Rahman, as well as Tapan Chowdhury, former advisor to the caretaker government and Managing Director of Square Pharmaceuticals, Shahidullah Azim, vice-president of BGMEA, Fahmida Khatun, executive director of CPD, and Dipankar Datta, country director of Oxfam in Bangladesh, spoke at the event
The paper, titled "Income and Employment in Covid Times: How the People are Coping - Findings from a Household Survey," was presented by Towfiqul Islam Khan, senior research fellow of CPD.
The report was conducted in late January and early February this year, among 2,600 households equally selected from rural and urban areas said about 40 per cent of the employed people had their employment situation worsen from the pre-Covid-19 period while only 8 per cent reported better situations.
According to the report, despite the full recovery of jobs before the second wave of the Covid-19 hit this year, average working hours had dropped by 4 per cent causing a decline in wage earnings. Additionally, about 45 per cent of households had a lower income compared to the pre-Covid-19 period on average, and average income declined by 12 per cent compared to the pre-covid-19 time for people; while those engaged in agriculture, forestry and fishing faced a loss of 16.50 per cent in contrast to their previous income.
The report further stated that income for people in the manufacturing sector declined by 13 per cent wholesale, retail trade, motor and vehicle repairing sectors by 14 per cent and about 9 per cent in construction, transportation and storage sectors.
The average loan size of the households doubled in the last year with 86 per cent of individuals not earning enough to meet daily necessities and about 78 per cent resorting to expenditure cut-downs; to cope with the impact. Meanwhile, 52 per cent of households had changed dietary patterns involuntarily.