KUALA LUMPUR: Malaysia’s labour market remained resilient in the first quarter (1Q) of this year, with the unemployment rate holding steady at 2.9%, although skills mismatch and youth unemployment continue to pose key challenges.
In a statement yesterday, the Social Security Organisation (PERKESO) said Employment Insurance System (EIS) data recorded 24,025 job losses during the quarter, underscoring the need for immediate intervention.
It said although job losses increased compared with previous years, the trend also created opportunities for career transition and skills enhancement programmes.
“Current developments show that global economic uncertainty provide room for more focused support strategies for domestic employment stability.
“Through the comprehensive ecosystem of EIS, PERKESO does not just channel temporary financial assistance, but also provides active interventions through the MYFutureJobs portal as a national career matching hub,” the statement said, Bernama reported.
As of June 5, PERKESO had approved 137,887 EIS benefit claims involving recommended payments totalling RM255mil this year.
The claims covered key benefits, including the Job Search Allowance, Reduced Income Allowance, Early Reemployment Allowance, Training Fee and Training Allowance.
