Total labor force and GDP of Bangladesh: an analysis in between the year 2002-2009
In this simple analysis study author 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 is being found that r=.96, that means there is a strong positive relationshio between x (Labor Force) and y(GDP). Besides that Correlation coefficient (On Growth Rate) value is being found r=0.19, that means LF couldn’t influence on GDP properly (all LF were no 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(ILFCin GDP ) it is established that GDP is Proportional to Laborforce[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 mean when LF rise then the GDP also rises.Then author gave some recommendation to increase the GDP by utilizing the LF in the context of Bangladesh also in context of the whole world
|Date of creation:||13 Feb 2012|
|Date of revision:||18 Mar 2012|
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