KUALA LUMPUR (April 18). Unemployment has become a serious issue in Malaysia, says the Malaysian Institute...

 

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KUALA LUMPUR (April 18). Unemployment has become a serious issue in Malaysia, says the Malaysian Institute of Economic Research (MIER), noting that the slower economic growth could not support the labour market. MIER executive director Emeritus Professor Dr Zakariah Abdul Rashid expressed concern especially on the rising unemployment among youths. "We don't have the unemployment breakdown that shows the graduates' unemployment but the Human Resource Ministry has mentioned that nearly half a million people are unemployed and out of that, 200,000 are youths, which means about two-fifth of the unemployment comes from youths Unemployment affects the economy adversely as the productivity falls below the normal level. When there is high rate of unemployment in the country, government has to suffer extra borrowing burden due to decrease in the production and less consumption of goods and services by the people. Not only the unemployed people consume less its even employed has weak purchasing power due to fear about their loss of their jobs. Unemployed not working and not contributing for income generation of the economy, but also they claim benefits from the government and it is an additional cost for the economy as a whole Required: Discuss on the policies and ways that Government can use to overcome the problem or to minimize the unemployment problem in Malaysia. You should support your answer with relevant research and provide examples to support your point. Instruction: Your work should NOT emotionally or politically motivated. (50 marks) KUALA LUMPUR (April 18). Unemployment has become a serious issue in Malaysia, says the Malaysian Institute of Economic Research (MIER), noting that the slower economic growth could not support the labour market. MIER executive director Emeritus Professor Dr Zakariah Abdul Rashid expressed concern especially on the rising unemployment among youths. "We don't have the unemployment breakdown that shows the graduates' unemployment but the Human Resource Ministry has mentioned that nearly half a million people are unemployed and out of that, 200,000 are youths, which means about two-fifth of the unemployment comes from youths Unemployment affects the economy adversely as the productivity falls below the normal level. When there is high rate of unemployment in the country, government has to suffer extra borrowing burden due to decrease in the production and less consumption of goods and services by the people. Not only the unemployed people consume less its even employed has weak purchasing power due to fear about their loss of their jobs. Unemployed not working and not contributing for income generation of the economy, but also they claim benefits from the government and it is an additional cost for the economy as a whole Required: Discuss on the policies and ways that Government can use to overcome the problem or to minimize the unemployment problem in Malaysia. You should support your answer with relevant research and provide examples to support your point. Instruction: Your work should NOT emotionally or politically motivated. (50 marks)

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To address the unemployment issue in Malaysia the government can implement various policies and initiatives aimed at minimizing unemployment and suppo... View the full answer