Low wages and limited opportunities due to demand and supply issues have made many young Malaysians pessimistic about their future. Some have even started looking for job opportunities in foreign countries in hopes of higher wages and secured job stability.
What are the causes of youth unemployment in Malaysia?
Recent statistics show various factors contributing to unemployment among youth in Malaysia. According to the Ministry of Finance (2019), unemployment among youth is due to i) lack of work experience, ii) lack of skills, iii) insufficient education levels, and iii) skills incompatibility to compete in the labor market.
What are the causes of unemployment in Malaysia?
While Nasrudin (2004) stated the eleven factors that lead to the unemployment problem among the graduates are the relationship between capital intensive economy, a rapid increase of graduated workforce, lack of the relationship between educational institutions and the industry, lack of training for work preparation, …
What are the effects of youth unemployment?
Experiences of unemployed young people include lowering of self-esteem, a feeling of uselessness and a sense that life may be meaningless. Youth unemployment has a negative effect on the individual and the family, but also on the broader community in the form of serious economic and social consequences.
What is the consequences of youth unemployment?
Unemployed youths are likely to have problems with health, friendships and family life compared to those with work or studying. They have less confidence about the future, are more likely to turn to drugs, think that there is nothing to look forward to and sense that their life has no direction.
How can I improve my youth employment?
The seven measures to increase employment opportunities analysed in the paper are:
- Create groups of employers.
- Creation of database at regional and sectorial level.
- Creating social enterprises.
- Contracts with reduced working time per month (” day laborers “)
- Training course for university graduates.
What is the current youth unemployment rate?
The unemployment rate of young people aged 15–24 in the reference month of June for 2020 was 16%, an increase from 12% in 2019, and the highest rate since 1997. Monthly analysis since the COVID-19 pandemic began in March 2020 showed the rate peaked at 16.4% in July 2020 and was 11% in April 2021.
Is Malaysia economy stable?
Malaysia’s economic freedom score is 74.4, making its economy the 22nd freest in the 2021 Index. Its overall score has decreased by 0.3 point, primarily because of a decline in judicial effectiveness. … The Malaysian economy maintained its ranking in the mostly free category this year.
What are effects of unemployment?
The personal and social costs of unemployment include severe financial hardship and poverty, debt, homelessness and housing stress, family tensions and breakdown, boredom, alienation, shame and stigma, increased social isolation, crime, erosion of confidence and self-esteem, the atrophying of work skills and ill-health …
How can a graduate overcome unemployment in Malaysia?
restructuring the educational system in order to increase the students’ achievements 2. increasing the graduates’ skills in order to increase the marketability of the graduates, and 3. restructuring the labour market system in order to develop Malaysia as a high-income nation.