Jobless rate to hit 6% or higher
Office workers wearing masks during their lunch hours in Kuala Lumpur city centre. Ambank Group Research has predicted an unemployment rate of 6% or higher. – The Malaysian Insight pic by Afif Abd Halim, June 16, 2020.
MALAYSIA’S unemployment rate can hit 6% or even higher this year, worse than during the 1997 Asian financial crisis and 2008 Great Recession when unemployment rose to 3.2% and 3.7%, said Ambank Group Research. The recent labour market data according to the research house suggested the health of the job market is far more devastating after unemployment in April climbed to 5%, the highest since 1990 from 3.9% in March.
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