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Total labor force and GDP of Bangladesh: An analysis in between the year 2002-2009

Hossain, Muhammad Iqbal (2012): Total labor force and GDP of Bangladesh: An analysis in between the year 2002-2009.

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Abstract

In this simple analysis study, I took the Data on Labor force and GDP in the years of 2002-2009 of Bangladesh and found the correlation between Labor force and GDP.After analyzing the Data set the correlation coefficient (on overall volume) value, I found that r=.96; that means there is a strong positive relationship between x (Labor Force) and y (GDP). Besides that Correlation coefficient (On Growth Rate) value, I found r=0.19; that means LF couldn’t influence on GDP properly (all LF were not employed) and also taking into consideration that factors of GDP constant, but still there is a positive relationship between LF and GDP. After that by the theory of Individual Labor Force Contribution in GDP (ILFC in GDP) I established that GDP is Proportional to Labor force [That means GDP=f (LF)] by analyzing UK and Bangladesh’s ILFCinGDP values between the year 2002-2004.It is seen that the tendency of ILFCinGDP is increasing year by year. That means when LF rise then the GDP also rises. Then I gave some recommendation to increase the GDP by utilizing the LF in the context of Bangladesh also in context of the whole world

Acronyms’: LF: Labor Force ILFC: Individual Labor Force Contribution GDP: Dross Domestic Force

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