Nearly 35,000 M’sians Were Laid Off in 2017, Says Human Resources Ministry

Anyone in the working world knows how difficult it is these days to land a decent job, but it’s even more heartbreaking when you get laid off. Just like a break-up! 

Losing your job is certainly not the most fun thing to experience, and if you’ve ever had the misfortune of getting laid off, recent statistics show that you’re definitely not alone!

Source: office parrots

According to Free Malaysia Today, the Ministry of Human Resources recently revealed that nearly 35,000 Malaysians lost their jobs last year. Meanwhile, 1,065 were recently laid off earlier in January 2018. Here are the top four industries that took the biggest hits last year;

1. Manufacturing (lost 25,370 workers)
2. Services (lost 1,476 workers)
3. Retail (lost 1,275 workers)
4. Finance (lost 1,210 workers)

These figures were brought to light after MP V. Sivakumar Naidu (DAP-Batu Gajah) asked for the number of Malaysians who lost their jobs last year, and what measures were being taken to address this.

In response to his question, the Ministry of Human Resources added that it has already set up operation centres, which are operating alongside with the Malaysian Industrial Development Authority (MIDA), Malaysian Employers Federation (MEF) and Malaysian Trades Union Congress (MTUC) in efforts to monitor and address this issue.

They have also been working with the Ministry of Finance and JobFair@UTC to help those who have been retrenched find employment.

Source: hassan1663 | blogspot

The Malaysian Employers Federation (MEF) has since addressed this issue, attributing the high number of job losses in the manufacturing sector to the lower ringgit and reduced consumer spending. The influx of cheaper products was also cited as another possible factor that contributed to the large amount of retrenched workers.

“Although the lower ringgit benefited exporters, it also resulted in an increase in raw material costs that affected smaller businesses,” MEF executive director Shamsuddin Bardan told Free Malaysia Today.

This statistic is certainly alarming, especially considering the MEF’s prediction that more than 50,000 workers would be left jobless this year. One of the main reasons behind this prediction is that it will be more challenging for employers as they have to contend with higher operating costs (i.e. paying a levy for foreign workers, the Employee Insurance Scheme (EIS), increased maternity leave, and the possibility of paternity leave).

Well, it certainly looks like a challenging year ahead for a large amount of working Malaysians!

Also read: More Than 50,000 Malaysians Will Be Losing Their Jobs in 2018