Malaysia’s unemployment rate is targeted to drop to three per cent next year, from 3.4 per cent this year. Human Resources Minister V. Sivakumar said, “The target reduction to three per cent next year is something positive in the economic context, and the rate is considered reaching full employment.” Sivakumar said that the Ministry of Human Resources is continuing its efforts to reduce the unemployment rate among youths and graduates in terms of job placement in the professional sector. He added that MoHR, along with the Social Security Organisation (Perkeso) through My FutureJobs, will plan the best mechanisms to provide better job opportunities for these groups in the future.
He added that the ministry will also focus on formulating policies related to gig economy workers, including food delivery services, p-hailing and e-hailing, as guidelines before establishing specific acts to protect their interests, especially in terms of income and social security. Sivakumar said the lack of specific laws or acts to ensure the welfare of over 1.1 million gig economy participants in Malaysia has left this group without full protection.
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