Job losses increase by 42 per cent in first quarter of the year, says Socso

KUALA LUMPUR (Bernama): Due to the Covid-19 pandemic, job losses in the country has increased by 42 per cent year-on-year for this first quarter (Q1 2020), according to the Social Security Organisation’s (Socso) Employment Insurance System (EIS).

In a report titled Employment Outlook, the 1st Quarter of 2020 Volume 4/2020, The Impact of Covid-19 on Loss of Employment (LOE), EIS said the pandemic has impacted many businesses, to experience a drop in demand at 37 per cent or being unable to operate as usual at 42 per cent.