MALAYSIA-Job market likely to see futher improvment from Q4 onwards

26-Nov-2020 Intellasia | SIA | 6:02 AM Print This Post

Malaysia’s job market is expected to improve in the fourth quarter of 2020, based on the improvement in job creation and the stable unemployment rate in Malaysia since Q3 2020, reports Malay Mail, citing research from Institute of Labour Market Information and Analysis. The Institute’s senior director Betty Hasan said as the government had introduced different types of movement control order (MCO) such as the Enhanced MCO, Recovery MCO and Conditional MCO, there was no necessity for a nationwide lockdown and allow only essential services to operate like in the first MCO in March. Hasan added, “Thus we feel that the outlook for Q4 will be better as the economy is recovering and we believe it is positive for Malaysia. The worst is behind us hopefully.” Hasan also 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 percent and 17.1%, respectively, according to statistics by the Department of Statistics Malaysia, Ilmia and Social Security Organisation. Correspondingly, job vacancies also depicted a declining pattern, in Q1 and Q2 2020.


Category: Malaysia

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