Selangor Journal

The unemployment rate rose to 3.5%, 200,000 people were affected

BY NAZLI IBRAHIM
SHAH ALAM, MAR 1: The unemployment rate in Malaysia in 2016 rose to 3.5 percent compared to the lowest level ever recorded by 2.7 per cent in August 2012 when a total of 82,042 workers laid off during the past two years.
Former Deputy Director of Bank Negara Malaysia (BNM), Dr Rosli Yaakob said the latest statistics announced by the Ministry of Human Resources recently estimated to affect the lives of about 200,000 people.
“The loss of source of income is not only affects the individual who loses their job, but also to their family members as well as the usual one that contributes to the economy of their families.
“It would be worst if the one who lose their jobs is the sole breadwinner in the family that is either a husband or a single mother,” Rosli said when contacted by Selangor Kini.
Obviously, it is not impossible that the actual figures of people who lose their job in Malaysia exceeded the statistics released by the Ministry of Human Resources because not all companies or individuals reporting to the ministry.
He said, in addition to those that affect the ability to meet the needs of their families, they also lose the ability to repay loans and their vehicles and thus affect the banking institutions.
“It’s not only housing and car loans, if they are a borrower from the National Higher Education Fund Corporation (PTPTN), obviously they cannot even pay PTPTN,” he said.

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