KUALA LUMPUR (Bernama): Due to the Covid-19 pandemic, job losses in the country has increased by 42 per cent year-on-year for this first quarter (Q1 2020), according to the Social Security Organisation’s (Socso) Employment Insurance System (EIS).
In a report titled Employment Outlook, the 1st Quarter of 2020 Volume 4/2020, The Impact of Covid-19 on Loss of Employment , EIS said the pandemic has impacted many businesses, to experience a drop in demand at 37 per cent or being unable to operate as usual at 42 per cent.
"The youth unemployment rate has remained mostly steady at eight to 11 per cent. However, they are the age demographic most vulnerable to retrenchment. At 41 per cent, young employees aged 30 and below make up the majority of active employees registered with Socso, showing an increase of six per cent from 2018. Among them, 70 per cent have less than two years of working experience.
"Of more concern is Kedah, which accounted for one in six job losses despite being home to a relatively small number of employers.
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