Bank Negara: Holistic labour market policy framework needed to guide policymakers post-Covid-19 | Malay Mail

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KUALA LUMPUR, March 31 ― The government should consider implementing long-term structural reforms, such as a holistic labour market policy framework to guide policymakers in building a robust labour market ecosystem post-Covid-19. BNM said broadly, this framework could encompass policies to...

Wednesday, 31 Mar 2021 12:04 PM MYT

“Second, efforts to enhance skills and facilitate the reallocation of workers to more resilient, productive, and high-growth areas must be intensified, with more focus towards the ‘future of work’. “Specifically, implementation and deployment are spread over multiple agencies, leading to inefficiency and high administration costs.

“Over the long term, economic policies should be geared towards creation of high-skilled, high-paying jobs, with complementary focus on advancing skills enhancement, enhancing search and matching mechanisms in the labour market, and promoting more inclusive outcomes for vulnerable segments of the labour market.

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