The informal economy plays a significant role in Bangladesh's national economy, contributing to employment generation and the distribution of goods and services. The Bangladesh Labour Force Survey 2022 reveals that nearly 6 crore (60 million) people, accounting for 84.9% of the total working population in Bangladesh, are engaged in informal employment. It is noteworthy that out of the total employed women in Bangladesh, 96.6 percent are in informal employment. Similarly, 92.7 percent of youth aged 15-27 are employed informally. In terms of GDP and employment, Bangladesh's informal sectors are the most important economic activities. According to studies, about 35% to 88% of Bangladesh's workforce is employed in the informal economy, and the informal economy contributes around 49% to 64% of the country's GDP.
Informal Sector Industry Skills Council (ISISC) is created by the National Skills Development Authority (NSDA) earlier NSDC under the Prime Minister`s Office as a non-profitable organization. The organization is licensed by the Ministry of Commerce, Government of the People`s Republic of Bangladesh registered under the Companies Act (Act XVIII) of 1994. ISISC is one of the largest and vibrant non-profit organizations (out of 16 ISCs) for linking Informal Sector Industries with pertinent Government bodies and other stakeholders having common interest vis-a-vis workforce and sectoral development.
The informal economy plays a significant role in Bangladesh's national economy, contributing to employment generation and the distribution of goods and services. The Bangladesh Labour Force Survey 2022 reveals that nearly 6 crore (60 million) people, accounting for 84.9% of the total working population in Bangladesh, are engaged in informal employment. It is noteworthy that out of the total employed women in Bangladesh, 96.6 percent are in informal employment. Similarly, 92.7 percent of youth aged 15-27 are employed informally. In terms of GDP and employment, Bangladesh's informal sectors are the most important economic activities. According to studies, about 35% to 88% of Bangladesh's workforce is employed in the informal economy, and the informal economy contributes around 49% to 64% of the country's GDP.
Informal Sector Industry Skills Council (ISISC) is created by the National Skills Development Authority (NSDA) earlier NSDC under the Prime Minister`s Office as a non-profitable organization. The organization is licensed by the Ministry of Commerce, Government of the People`s Republic of Bangladesh registered under the Companies Act (Act XVIII) of 1994. ISISC is one of the largest and vibrant non-profit organizations (out of 16 ISCs) for linking Informal Sector Industries with pertinent Government bodies and other stakeholders having common interest vis-a-vis workforce and sectoral development.
To build a skilled, recognized, and empowered informal workforce that contributes effectively to national development and economic growth through inclusive, quality, and industry-responsive skills development.
