Unemployment Rate In Malaysia During Covid 19

Amid the covid 19 pandemic this year malaysia s unemployment rate is expected to shoot up to 4 this year from 3 3 in 2019 said bank negara malaysia bnm. A malaysian context source. Malaysia s unemployment rates have hovered between 3 2 and 3 3 percent since late last year.

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Unemployment rate in malaysia during covid 19. Chief statistician mohd uzir mahidin says the closure of most businesses during the mco resulted in the loss of jobs for many. The unemployment rate in malaysia increased to 5 3 percent in may 2020 from 3 3 percent in the same month a year earlier amid public health measures to contain the covid 19 crisis. Covid 19 has definitely highlighted how the gig economy has become an integral part of the new. Malaysia s unemployment rate is now the highest in a decade at 3 9 per cent as people saw their livelihoods affected amid covid 19 and the movement control order mco said the.

External ey source as at 20 march 2020 the updated baseline forecasts show that the unemployment rate will rise to 3 4 in 2020 compared to 3 5 in 2020 if the pandemic worsens. Labour market conditions in general are expected to be weak this year affected by the covid 19 pandemic. Bernama pic kuala lumpur. It was the highest jobless rate since the series began in march 1998 as the number of unemployed surged by 306 3 thousand to a record high of 826 1 thousand while employment fell 0 23 million to 14 89 million.

The unemployment rate in malaysia to rise to 3 5 in 2020 if global pandemic continues to worsen page 7 economic impact of covid 19.