Issue Of Unemployment In Malaysia

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.

Issue of unemployment in malaysia. Once unemployment issue is not solved creation of problems to the unemployed graduates nations society and even the country will certainly arise. Malaysia s unemployment rate is now the highest in a decade at 3 9 per cent as people saw their livelihoods affected amid covid 19 and the movement control order mco said the. The youth of malaysia are the ones who are most disenchanted with the new government s actions and policies. Unemployment is one of the issues still plaguing the nation with the overall unemployment rate stagnant at 3 3 percent according to the malaysian department of statistics in their january 2019 monthly statistical bulletin.

September 10 the youth unemployment rate in malaysia at 10 9 per cent officially is more than triple the national rate of 3 3 per cent and has been gradually rising over the past decade exacerbating the disgruntlement of a youth constituency that was instrumental in swinging the vote that brought the pakatan harapan coalition to power in the 2018 general election. In comparison the national unemployment rate went up by only 0 2 from 2 9 to 3 1. Unemployment is a negative issue that may arise in every country around the world. 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. Meantime the labor force gained 1 2 percent to 15 90 million. The unemployment rate in the us rose to 16 25 in just five weeks which equals to 26 5 million americans. Covid 19 has definitely highlighted how the gig economy has become an integral part of the new economy.

Malaysia s unemployment rates have hovered between 3 2 and 3 3 per cent since late last year. The increase in unemployment is happening not only in malaysia but also across the world. The other issue is the low income in malaysia zakariah said at mier s 22nd corporate economic briefing today. As long as a person is involved in the labor market he or she may one day become unemployed.