In the 13th Five Year Plan, the government plans to achieve full employment of 97.5 per cent with quality jobs by 2027. To achieve this goal, among various programmes and initiatives, the government will invest Nu 10bn to equip the workforce with the necessary skills and knowledge for the 21st century labor market.
Aimed at transforming Bhutan into a USD 10-billion GDP country, the 13th Five-Year Plan envisions an economy that provides full employment and offers well-paying, fulfilling jobs with equal opportunities for all by 2027.
The draft 13th Five-Year Plan document highlights that many young Bhutanese are leaving the country to find better opportunities abroad due to the economy’s inability to generate an adequate number of productive jobs within the country. This indicates that currently average Bhutanese people have limited opportunities to ensure their long-term financial security within the country.
Further, the document states that the persisting issue of high youth unemployment, and the increased incidence of poverty during the COVID-19 pandemic illustrate limited employment opportunities and financial security in the current economy.
To equip Bhutanese population or workforce with relevant knowledge and skills in the 21st century labor market, the government will invest 10 billion ngultrum through the ‘Twenty-First Century Skilling Programme.’ The programme includes transformation of tertiary education system, upgrading the Technical and Vocational Education Training system and the promotion of a culture of life-long learning.
Moreover, the long-term strategic plan of the 13th FYP intends to increase private sector engagement in the country’s development process to create more employment opportunities.
According to the National Statistics Bureau’s Quarterly Labor Force Survey Report, 2024, the estimated unemployment rate stands at 4.1 per cent for the first quarter of this year, up from 3.5 per cent, last year.
Further, the youth unemployment rate increased to 22.9 percent in the first quarter of this year from 15.9 per cent during the same period, last year.
Kinzang Lhadon
Edited by Phub Gyem
