Unemployment to drop to 4.5% by end of the year

With assistance such as the Penjana HRDF, the ministry is able to produce creative, productive and competitive human capital, says Saravanan. — Filepic

THE unemployment rate is expected to drop to 4.5% by December following the implementation of the Human Resources Development Fund (HRDF) under the National Economic Recovery Plan (Penjana).

Human Resources Minister Datuk Seri M. Saravanan said the unemployment rate in the country was 5.3% in May, and dropped to 4.7% in September although the country was currently facing economic crisis and the Covid-19 pandemic.

“With assistance such as the Penjana HRDF, the ministry is able to produce creative, productive and competitive human capital and make projections that the unemployment rate will decrease to 4.5% by December, ” he said when launching virtually the Penjana HRDF Initiative programme in Bukit Mertajam, Penang, on Friday.

The Penjana HRDF, which was launched on June 22, was implemented to help address the issue of unemployment due to the pandemic.

Five schemes have been introduced under the programme, namely Training and Placement, B40 Development, SME Development, Industrial Revolution 4.0 and Gerak Insan Gemilang.

In Penang, a total of 150 trainees participated in the five-day programme which emphasised on skills training in producing competitive human capital.

Meanwhile, the ministry has also introduced the Employment Retention Programme (ERP), a new programme to assist employees who are forced to take unpaid leave due to the Covid-19 outbreak. — Bernama