The number of job postings in the online job portals in Bangladesh dropped by 87 per cent year-on-year in April as businesses stopped hiring workers due to the coronavirus pandemic-induced lockdown, according to the latest briefs of the Asian Development Bank.
In April this year, the number of job postings was only 13 per cent of the total jobs posted in April, 2019, the ADB said in the briefs released recently.
Job applications also declined by 81 per cent in April in tandem with the decreased job postings, the Manila-based lender said.
The ADB prepared the briefs based on a rapid assessment of labour markets in Bangladesh and Sri Lanka during the COVID-19 crisis using data from the largest job portals in the countries.
Online job postings in Sri Lanka declined by 70 per cent in April, 2020 compared with that in the same month of 2019.
‘The number of job postings dropped sharply from the third week of March, one week after the first cases of COVID-19 were confirmed and a nationwide lockdown was implemented,’ the report said.
Job postings in March this year dropped by 35 per cent compared with that in the same month of the previous year, it said.
A sharp decrease in job postings has occurred across all industries with the highest rate of 95 per cent in textile and education industries and by 92 per cent in the manufacturing industries, it said.
The sharp decline in the textile industry may be related to the pandemic affecting key export markets such as Europe and the United States, it observed.
The manufacturing industry is also affected by disruptions in intermediate imports.
The reduction in health and information communication technology sectors was 82 per cent and 81 per cent respectively.
These results clearly show that businesses stopped hiring workers because of the COVID-19 outbreak, the report said, adding that all industries reduced new job postings significantly.
While online job portal data are not representative of the entire labour market, they can readily capture the impact on labour demand caused by COVID-19 lockdown, the ADB report said.
Want stories like this in your inbox?
Sign up to exclusive daily email
More Stories from Miscellany