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Wednesday, December 7, 2022

Over 40,000 M’sians Lost Their Job this Year

Social NewsOver 40,000 M'sians Lost Their Job this Year

The Human Resources Minister, Datuk Seri M. Saravanan has revealed that that there were a total of 40,680 cases of loss of employment (LOE) being recorded across the nation as of August 2021. This averages out with 5,811 cases per month.

He added that the Social Security Organisation (Socso)’s Employment Insurance System will be monitoring the LOE trend on a daily basis so as to better provide protection to the workers who have lost their employment for various reasons.

He said this in the opening address of the International Public Employment Forum (IPEF 2021) held virtually yesterday (7 September).

Meanwhile, Socso explained that LOE includes normal retrenchment and redundancy, voluntary or mutual separation schemes (VSS/MSS), closure of the company due to natural disasters, bankruptcy etc, and constructive dismissal, resignation due to sexual harassment or threats made in the workplace, and resignation after being ordered to perform dangerous duties that are not within the job scope.

“As we are all aware, the Covid-19 pandemic has not only affected people’s health but also created an economic crisis for nations around the world.”

“This follows measures taken to prevent the virus transmission, which resulted in closures of companies with workers losing jobs or working for a reduced salary.” he said, as reported by Bernama.

Meanwhile, he also said the government had been taking various measures since March 2020 to help reduce the burden of the people and ensure business can continue to operate. This way, they were able to avoid huge retrenchment exercises, including the National People’s Well-Being and Economic Recovery Package (Pemulih), which was launched in June this year.

Socso is also given the task of implementing Pemulih programmes, such as the Wage Subsidy Programme 4.0, PenjanaKerjaya 3.0, KerjayaGig and SIP Prihatin 2.0, which are targeted at employers, employees, job seekers and the self-employed.

Besides that, the Ministry had also introduced the national job portal, MyFutureJobs and they have so far recorded a 1.29 million vacancies from 21 sectors, and a total of 564,830 active job seekers have registered on the portal, with 196,471 successful placements recorded.

Meanwhile, Saravanan said the event organised by Socso, is targeted to strengthen and create a more resilient labour market in the country. He added that human resource is one of the important components of the nation’s economy.

“There is also a need to strengthen the current labour market, and continuously upgrade evidence-based policies for better social security protection based on rapid response scenarios, whether it is related to health, employment, or social protection response.” he said.

The 2-day IPEF 2021 features more than 50 local and international speakers and presenters in 3 concurrent events, two virtual symposiums and a mega job fair, as the government aims to help rebuild the economy and the labour market post-Covid-19.

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