PUTRAJAYA, Jan 20 — Malaysia is facing three major paradoxes, which present significant challenges to the country’s labour market, said Human Resources Minister Steven Sim. He...
Low wages, skills mismatch, and insufficient job opportunities: Three paradoxes straining Malaysia’s labour market, says HR minister
“The low unemployment rate, , should allow workers to negotiate higher wages, as they have bargaining power due to the shortage of workers in the market,” he said at a press conference, after conducting a working visit to the Federation of Trade Unions of Independent Statutory Bodies with Segregated Remuneration, here, today.
“However, at the same time, we also find that individuals with high qualifications are not securing jobs which match their skills,” he said.He also highlighted a third paradox: the insufficient number of new job opportunities to accommodate the growing number of technical and vocational education and training , and science, technology, engineering, and mathematics graduates, produced annually by higher education institutions.
In response to these paradoxes, Sim said that the government has been diligently working over the past two years to strengthen various initiatives, aimed at improving the skills of the local workforce and aligning them with industry needs through the Madani Economy Framework.
Steven Sim Human Resources Ministry
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