KUALA LUMPUR, Aug 13 — The Malaysian labour market is expected to recover going into 2022 although at a more moderate pace after witnessing a weaker 2021 outlook, Bank Negara Malaysia said.
“But the imposition of full movement control order has affected recovery in June and as a result, employment had declined in the second quarter by 29,000 persons while the unemployment rate remained elevated at 4.8 per cent,” she told a press conference on the ‘Economic and Financial Developments in Malaysia in Q2 2021’ report released today.
“Nevertheless we do expect the labour market conditions to resume its recovery trajectory once the benefit from the vaccination programme begins to materialise and it will also improve our health situation domestically.Asked if the current uncertainty in the political development would impact the economy, Nor Shamsiah replied: “The crisis can be from anywhere but the impact of the crisis will come to the financial market.