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Excessive numbers of Bangladeshi workers migrating to the same labour market tend to lower their average wages due to an oversupply of workers, according to a new study by the Bangladesh Institute of Development Studies (BIDS).

The study suggests that this risk can be reduced if Bangladesh diversifies its labour migration by sending more skilled workers across different sectors, rather than relying heavily on low-skilled migration.

These insights were presented in a theoretical paper titled “The Impact of Rising Global Oil Prices on Remittances and Migrant Workers from Small Economies” at a BIDS seminar in Dhaka’s Agargaon yesterday.

The research was conducted by AKM Mahbub Morshed, professor of economics at Southern Illinois University in the US. The session was chaired by Mohammad Yunus, research director at BIDS.

The paper outlines the dual impact of rising global oil prices. Higher oil prices boost the income and labour demand of oil-producing countries, leading to increased production and longer working hours. This initially benefits migrant workers, whose earnings and remittance contributions rise as a result.

However, the study notes that this favourable phase is temporary. As news of higher wages spreads, more At

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