Exploring Economic Growth-Unemployment Dynamic Interplay in the Context of Bangladesh

Drawing on the key theoretical framework of the Law of Okun (1962), this study aims to provide a complete analysis of the complex connection between economic development and the unemployment rate in Bangladesh. A thorough research was carried out using four unique analytical approaches (correlation analysis, regression analysis, an analysis of variance (ANOVA) table, and a coefficient table) to examine the probable link between two variables over the transitory and perpetual term. Okun's coefficient analysis was the major focus of this investigation. Unfortunately, our research has not uncovered any strong empirical evidence linking the aforementioned factors. According to the results, Okun's rule is limited in its capacity to explain the interdependence and relative influence of the variables of interest in the context of Bangladesh. According to the results of the current research, there is no clear evidence of a negative connection between unemployment and GDP progress. This finding still shows the existence of some link between economic expansion and joblessness. It is important to keep in mind, however, that slow economic development is not the only factor contributing to Bangladesh's unemployment problem.