Bosses group confident budget will help cut unemployment rate

[superadmin]

KUALA LUMPUR: The 2022 budget initiatives will help in alleviating the rising unemployment rate, said the Malaysian Employers Federation (MEF).

In a statement today, it noted that the number of unemployed Malaysians rose to 711,000 in 2020 from 508,200 in 2019, while youth unemployment rose to 314,000 in 2020 from 295,800 in 2019.

MEF president Syed Hussain Syed Husman commended the government’s allocation of RM4.8 billion to guarantee 600,000 job opportunities under the Jamin Kerja Keluarga Malaysia (JaminKerja) initiative.

Additionally, employers who hire Malaysians who have not been actively employed will be provided with an incentive of 20% of the monthly salary for the first six months and 30% for the next six months. These are only for jobs that pay a monthly wage of RM1,500 and above.

He also lauded the government for setting aside RM2 billion to continue the Wage Subsidy Programme that would benefit about 300,000 employees, especially those in the tourism and related sectors that were badly affected during the lockdowns.


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