The Bhutanese Leading the way.
The Minister of Industry, Commerce, and Employment (MoICE), Namgyal Dorji, announced that overall unemployment rate has decreased to 3.1 percent from 3.6 percent in 2023. Youth unemployment has also fallen, dropping to 16.5 percent from 20 percent in the previous year.
Recent figures presented by Lyonpo during the session shows that the employment situation is improving.
“The unemployment rate is going down, and the employment-to-population ratio (EPR) is at 63.1 percent, which suggests that there are good job opportunities available. Although the goal is to increase this ratio to around 70 percent, the current trend shows that things are moving in the right direction, especially in areas like the private sector, tourism, and digital services,” Lyonpo stated.
He also added that the unemployment-to-population ratio, which takes into account all working-age people, is very low at just 2 percent, which means that the people who want to work can find jobs.
However, this also shows that while many people are employed, there is still room to focus on improving the quality of jobs, using people’s skills better, and getting more young people involved in the workforce.
With many young people struggling to find work and civil servants moving out of the country, creating long-term job opportunities has become even more important. As Bhutan’s economy grows, the private sector is expected to play a bigger role in providing jobs, and the government is focusing on encouraging growth in this area through targeted efforts.
Lyonpo mentioned that the high number of people leaving the country for work is part of a global trend. Although this is a challenge, Bhutan sees it as an opportunity.
Bhutanese who work abroad often return home with new skills and experiences, and the government is working to make the country’s job market attractive enough to bring them back and use their knowledge and resources to help develop the country.
To continue this progress, MoICE has launched several programs aimed at helping around 75,000 jobseekers over the next five years (13th Five Year Plan). The goal is to keep the unemployment rate below 2.5 percent. Some of the key initiatives are Youth Engagement and Livelihood Program (YELP, Employment Service Centers (ESCs), Overseas Employment Program (OEP) and National Reintegration Program (NRP).
