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M’sian Unemployment Rate Reached All-Time High In May 2020; How’s The Government Helping?

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Source: Vulcan Post & The Edge Markets

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The Movement Control Order hasn’t been easy on anyone physically, mentally and especially economically. It was no surprise that many companies either had to retrench their employees or face a pay cut.

In figures shared by the Malaysian Department of Statistics, the unemployment rate is the highest ever in May 2020 at 826.1 thousand people (5.3 %). There’s a whole 73 % increase from simply the previous two months during March 2020 at 519.8 thousand people.

 

The employment to population ratio which provides us with information on how the economy can create employment opportunities also dropped by 0.4 %.

Unemployed

How’s the government helping the unemployed?

Due to the Covid-19 pandemic crisis and the subsequent Movement Control Order, the government announced PENJANA (Pelan Jana Semula Ekonomi Negara) which aimed to save jobs and promote employment, while ensuring the people have enough to live on.

Besides hiring opportunities and increased wages, the government also offers reskilling and training to ensure the skills of workers’ are maintained.

  • To encourage the hiring of employees, the government offers financial incentives for the employers where if you employ school leavers and graduates who attend apprenticeships you will receive RM600 per month for six months.

If you hire an unemployed worker below the age of 40, the amount is at RM800 per month of employment for 6 months while unemployed workers above the age of 40 can receive RM1,000. This also goes for anyone with a disability.

Hiring Mco Featuredimage 001

As youths or fresh graduates, an excuse you’re probably sick of hearing when you’re looking for a job is “We need someone with more experience.” But here’s a question to companies out there, how do you expect fresh graduates to have more experience when you DON’T HIRE THEM?

  • However, to polish whatever skills fresh graduates possess, the government dedicates an RM2 billion fund for reskilling and upskilling programmes. Government training facilities under MARA, community colleges, IKBN (Institut Kemahiran Tinggi Belia Negara), ILP (Industrial Training Institute) will be optimised.
  • Not only that, but incentives for further studies will also be provided, focused mainly on short courses in local universities.

To those facing unemployment in these troubled times, all we can say is don’t give up, even when it seems bleak. Make sure to check all the incentives offered by the government to make sure you’re benefitting completely.

 

Also read: 15,597 Employees in Johor Are Facing Unemployment Or Salary Reduction Throughout MCO

Source: Vulcan Post

Follow us on Facebook, Youtube, Twitter, and Instagram for the latest stories and updates daily.



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