Protect the wage earners
Photo: Wahid Adnan / driknews
With the developed world's liquidity crisis as well as political unrest in the Arab regime triggering a global economic downturn, safeguarding our wage earners is critical. Shrinking wages directly affect our low-income classes. The accompanying dip in consumer expenditure will drag economic growth and delay recovery from recession. The Bangladeshi wage earners' woes are exacerbated by several factors. A meaningful and universal minimum wage policy should precede any further initiative on labour reforms. Another imperative is to step up income support measures. One sector where these are required immediately is also one that is going through a major labour market transformation: the rural agrarian workforce, which suffers from lower job prospects. These call for a further strengthening, not weakening, of labour market institutions. The challenges are huge. Governments in Bangladesh and elsewhere should strengthen their protective role through new initiatives.
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