The labor ministry (MoLHR) will soon launch its first Human Resources Development (HRD) advisory series to curb unemployment issues and develop an appropriate human resources development policy, plans and programs for all the agencies.
A total of around 140,000 jobs will be required in the 11th Five year Plan and approximately, 21,000 jobseekers will enter the labor market on an annual basis. This is mentioned in the Annual report (Fiscal Year 2011-12) of the MoLHR.
A news release stated that there is a need to coordinate the efforts of all HRD implementing agencies in accordance with the economic and social need of the country. The HRD advisory series will look into the change in domestic and international environment.
According to the Annual report, the projected number of job seekers for 2018 is 27,505, while the number for this year is 18,682. Job seeking Students who are Classes X and XII pass outs would add more to the unemployment ratio. The projected number for the above category is 13,083.
The number of students studying in Classes X and XII is around 21,308 this year.
The number of job seekers who are degree holders for 2012 is 1,969 but it would escalate to 3,421 in the year 2018.
As per the Labor Force Survey (LFS) of 2012, Bhutan’s total population is 734,851 while total persons employed are 329,487. However total unemployed had decreased from 10,500 to 6,904 over the year.
Although the MoLHR achieved 2.1% unemployment rate, much lower than the target set, yet the ministry is gearing up to resolve the chronic unemployment problem.
The press release states that Bhutan has experienced phenomenal economic growth as confirmed by the real GDP growth rate of 11.8% in 2010.
At the same time the nation is also experiencing a huge gap in the labor market which gave rise to unemployment issues. The National HRD will hopefully serve to address the critical importance of complementing economic development with appropriate human resources development policies, plan and programs.
The National HRD policy developed in 2010, to reiterate the importance of human resources to economic growth and social development could not benefit the labor market’s need and ultimately widened the gap in the labor market and unemployment issues.
“The economic goals of a nation can be achieved by the creation of planned human resources development. But the HRD program was mostly not for the long-term economic needs of the country,” stated the news release from the ministry.
The objective of the HRD advisory series is to guide and advice the government of Bhutan and its implementing agencies on the emerging HRD requirements, focusing on the economy of the country.
The advisory series will also provide advices and will look into the existing and required HRD institutions in the country and review its National Policy implementation by different agencies.