Monday, 23 Nov 2020 09:30 PM MYTKUALA LUMPUR, Nov 23 — The Institute of Labour Market Information and Analysis is optimistic that the job market will be better in the fourth quarter of this year in Malaysia based on the improvement in job creation and the stable unemployment rate in Malaysia since Q3 2020.
“The worst is behind us hopefully,” she said during a webinar session organised by the EU-Malaysia Chamber of Commerce and Industry titled “Malaysia’s Labour Market Outlook in the Time of Covid-19”, today. “The labour market started to feel the impact of the measures as the unemployment rate in April spiked to 5.1 per cent. This is the highest rate experienced in Malaysia since 1990.
In general, she said it was clear that decline in economic growth influences job creation. The economic indicator dropped significantly in Q1 and Q2 2020 to 0.7 per cent and -17.1 per cent respectively, according to statistics by the Department of Statistics Malaysia, Ilmia and Social Security Organisation.
To mitigate the impact of Covid-19 on the labour market, Malaysia introduced a series of economic stimulus measures to maintain financial stability in the country, safeguard household economic welfare and help companies survive the crisis. Meanwhile, Eurocham Malaysia chief executive officer Sven Schneider said the chamber is currently doing its own survey on how much European companies registered in Malaysia have benefited from the initiatives announced by the Malaysian government.
Diharap Kerajaan akan terus membantu lebih daripada 98.5% perniagaan-perniagaan kecil yang telah dijejaskan teruk oleh Covid-19.