Article About Unemployment In Malaysia

Meantime the labor force gained 1 2 percent to 15 90 million.

Article about unemployment in malaysia. Covid 19 has definitely highlighted how the gig economy has become an integral part of the new economy. Labour market conditions in general are expected to be weak this. Afzanizam said the unemployment rate should subside in the coming months as the economy gradually reopens following the implementation of the conditional mco from may 4 and the recovery mco from june 10. Written by jasmine andria.

New straits times nearly 60 000 malaysian graduates are unemployed a government survey has revealed. While the unemployment rate in february 2019 remained at 3 3 since september 2018 the number of unemployed stood at 516 400 a 1 6 increase against february 2018. Malaysia s unemployment rates have hovered between 3 2 and 3 3 per cent since late last year. Malaysia s august 2020 unemployment rate remained at 4 7 compared to the preceding month based on the nation s estimated 741 600 unemployed persons against an expanded labour force of about 15 9 million people as the country contended with the impact of the covid 19 pandemic according to the statistics department today.

Yet the problem of graduate unemployment continues. The unemployment rate in malaysia jumped to 4 7 percent in august 2020 from 3 3 percent in the corresponding month of the previous year amid the severe impact caused by the covid 19 pandemic. A government survey in malaysia finds most graduates unemployed are malays with poor english language skills irrelevant degrees. Bank islam malaysia bhd chief economist dr afzanizam abdul rashid and sunway university economics professor dr yeah kim leng when contacted both said the rate came in within expectations.

Malaysia s unemployment rate which was recorded at 10 8 last year was most likely due to the mismatch of skills. In a report issued by midf research it stated the figure was influenced by the soaring graduate unemployment rate which spiked to 9 6 and translated to 204 000 people this also made up 40 5 of total unemployment. Malaysia s khazanah research institute kri noted in a study released last december titled the school to work transition of young malaysians that 95 percent of young workers in unskilled jobs and 50 percent of those in low skilled manual jobs are over qualified for these occupations. The number of unemployed surged 42 6 percent from a year earlier to 741 6 thousand while employment declined by 0 2 percent to 15 15 million.