Write a letter to your Bangladesh pen –friend, `Y’ living in England about how unemployment problem resulting from Covid-19 is creating social insecurity in Bangladesh together with your suggestion to address the same.

London, England 
11.10.2020

Dear 'B'
London, England 11.10.2020
Hope you are fine with The Almighty's blessings. I am also fine. Today I will share my ideas about the unemployment problem resulting from Covid-19 creating social insecurity in Bangladesh.
The lockdown is attacking all groups of people in the world. No employed or unemployed person will come out better from it. The lockdown may save as from the infection, but the cost will be a very big loss of livelihood. The World Bank forecasted that South Asia might post 1.80% to 2.80% GDP growth which is still a better scenario than some other regions. According to ILO, Bangladesh has more than 85% informal labour who are extremely vulnerable. The hardest hit of the impact would involve marginalized low-income people, many of whom are daily wage-earners and self- employed. The poverty rate would be 49.9%, meaning that another 20.4% of the population would plunge into poverty. The current massive economic disruption is hurting the 20 million youth labor force of Bangladesh. Thus unemployment will create an unexpected income shock. Consumption reduction arising out of unemployment not only reduces the welfare of the individual but also reduces the aggregate demand of the economy.

Therefore, the government could provide short-term income support on a large scale to secure the job seekers through unemployment benefits can help the unemployed to maintain their consumption level and promote social welfare. No more today. I will write later. Give my Salam to your parents. 

Your loving ‘A’