Unemployment rate is going down

ALOR GAJAH: The country’s unemployment rate has continued to trend downwards, with 3.5% recorded in the first quarter of 2023 compared with 3.6% in the fourth quarter of 2022, says Human Resources Minister V. Sivakumar.

He said this was due to a significant shift in job-seeking trends, especially among the youth recently.

At the same time, there were various initiatives being implemented by the government to assist job seekers aged 40 and above.

“There was indeed a changing trend in job searches, especially since Covid-19, as many people lost their jobs and then sought employment opportunities that matched their interests and skills.

“This change in trend is evident,” he told a press conference after launching the Madani Tour with the Human Resources Minister programme in Pulau Sebang here yesterday.

He added that data from the MYFutureJobs Portal showed that 455,350 job seekers nationwide had been successfully placed in various sectors from 2022 until last month.

“This is a positive indication that more people are starting to work and the unemployment rate is decreasing.

“At the same time, they are receiving fair wages or salaries,” he said.

Sivakumar also said his ministry and other agencies including the Social Security Organisation would make more efforts to reduce youth unemployment rates.

The proposed programme aimed to not only lower the unemployment rate, but to also equip the nation’s youth with adequate training and skills to enter the highly competitive job market, he added.

“We are monitoring developments and trends worldwide to identify potential future jobs. Currently, there is a high demand in specific fields such as cybersecurity and digitalisation,” he said.

Sivakumar also said efforts were being made to reduce reliance on foreign workers, with the agencies under his ministry focused on attaining 100% local employees in crucial sectors.

“We are striving to reduce the dependence on foreign workers, which is still high. I am encouraging employers to focus on absorbing locals,” he said.