fbpx
Connect with us

Social Stories

Report: Poverty Rates Increase In Malaysia As 20% Of M40 Households Move Into B40

Published

My Post 2021 09 22T101304.377
Source: Investvine & 123rf

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

We’ve all seen the severe impact of Covid-19 on our economy and our livelihoods, but with these recent numbers on our poverty rates, we finally have a better understanding of how badly we’ve been hit.

The Department of Statistics Malaysia (DOSM) recently released their Household Income Estimates and Incidence of Poverty Report 2020, and the results are not pretty.

Based on their report, the incidence of absolute poverty has increased to 8.4%, as compared to 5.6% in 2019. This means that the incidence of hardcore poverty has also increased to 1.0%, as compared to 0.4% in 2019, which involves 78.0 thousand households (27.2 thousand households in 2019).

Poverty 2

Household incomes have also severely decreased, with 20% of M40 households (earning between RM4,850 and RM10,959) moving into the B40 group and 12.8% of T20 households moved into the M40 group.

On top of that, B40 and M40 households both experienced a decrease in income distribution to 15.9% for B40 (16% in 2019) and 36.9% for M40 (37.2 per cent in 2019), whereas T20 households, which own 47.2% of the income distribution increased by 0.4% in 2020 from 2019.

Despite a portion of T20 households experiencing lifestyle changes as they move into M40 status, we can’t help but notice that there still was an increase in income distribution for the existing T20 group when M40 and B40 households are experiencing decreases in income.

The report added that the Covid-19 outbreak has had a significant impact on the structure of household groups in Malaysia but the country may still be able to recover. “The impact may be temporary as the economy is expected to improve and recover as the spread of the pandemic can be contained.”

However, they also pointed out how the federal and state government play a key role in cushioning the impact of the pandemic as well as towards reviving the household income and the country’s economy.

We genuinely hope this inequality is eradicated as the authorities look into rebuilding and reviving our country’s economy.

What do you think about this? Let us know in the comment section.

 

Also read: Suicide Rates In M’sia Have Increased By 143%, We Need To Stop These Rising Figures Now!

My Post 2021 09 10T191823.333

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



Just In

My Post 1 2024 06 19T170718.079 My Post 1 2024 06 19T170718.079
News1 hour ago

Pudu LRT Passengers had the Fright of Their Lives After Train Became Hot Due to Very Close Building on Fire

Imagine being on the LRT, like any other day, only for the LRT to suddenly be surrounded by heat and...

Collage 5 2 Collage 5 2
News1 hour ago

Man in China Accidentally Kills Cheating Wife After Beating Her Buttocks for 20 Mins Straight With a Shoe

Man or woman, it’s never easy to deal with a cheating partner. Resorting to physical violence, however, is never an...

My Post 1 2024 06 19T162109.519 My Post 1 2024 06 19T162109.519
News2 hours ago

Thai Medical Intern Uses Muay Thai Skills to Fight Off Drunk Nursing Assistant’s Assault

As women, we’re constantly told to sign up for and attend self-defence classes to be able to protect ourselves when...

My Post 1 2024 06 19T114916.411 My Post 1 2024 06 19T114916.411
News5 hours ago

PETRONAS Allegedly Opens 1st Petrol Station Outside of Malaysia, in Brazil!

It’s no secret that Malaysia’s Petroliam Nasional Berhad, or more commonly known as PETRONAS, is the world’s strongest Oil &...

Collage 2024 06 19T113144.133 Collage 2024 06 19T113144.133
News6 hours ago

Study: Malaysia is the 20th Oldest Population in Asia, Yet Forever Young at Heart!

As people get older, they often discover joy and fulfillment in things they might not have appreciated when they were...

Collage 2024 06 19T085653.495 Collage 2024 06 19T085653.495
News7 hours ago

Cleanup Crew Finds Strange Looking Mattress on Bali Ocean, Shocked to See Fully Grown Sea Turtle Inside!

Our oceans are full of trillions of plastic pieces that can stick around for ages, breaking down into microplastics. These...

Feat Image Thai Legalise Same Sex Feat Image Thai Legalise Same Sex
News1 day ago

JUST IN: Thailand Becomes 1st ASEAN Nation to Legalise Same Sex Marriage After Passing Landmark Bill

Thailand made history today after its Senate approved a landmark bill to allow same sex marriages in the Kingdom, making...

Feat Image Competitive Feat Image Competitive
News1 day ago

Indonesia & Thailand Overtake Malaysia in World Competitiveness Ranking for 1st Time as We Drop to 34th

The International Institute for Management Development (IMD) has released its latest edition of the World Competitiveness Ranking which made for...

Announcement

Latest Videos



TRENDING TODAY