Job market on a knife-edge

Sunway University economics professor Yeah Kim Leng forecast a 4% unemployment rate in 2020, subject to the MCO duration and the extent of restrictions that will likely continue after the MCO has ended.

PETALING JAYA: The country’s unemployment rate could hit the highest level in three decades as more Malaysians are likely to lose their jobs, largely due to the novel coronavirus (Covid-19) pandemic.

Economists anticipated the national unemployment rate to spike this year as cash flow constraints arising from the country’s movement control order (MCO) led more companies to lay off their staff.