Insight - Can we bring lost jobs back?

Stable market: A worker surveys a construction site in Kuala Lumpur. The unemployment rate has moderated for two consecutive months after hitting a record high of 5.3% in May, suggesting that the worst of the Covid-19 impact on the labour market is seemingly behind us. — Bloomberg

THE Covid-19 pandemic is the biggest destroyer of jobs in both formal and informal sectors. The pandemic has worsened the labour market condition, which had already been impacted by the digital disruptions in recent years.

The workforce in high-risk industries such as accommodation and food services as well as wholesale and retail are most vulnerable to reduced income, furloughs or layoffs as a result of the crisis.