Unemployment worse than what numbers show


Kelvin Lee

The government’s three economic stimulus packages to cushion the blow from Covid-19 and movement curbs provide only short-term relief. – The Malaysian Insight file pic, July 21, 2020.

UNEMPLOYMENT has skyrocketed worldwide amid the coronavirus pandemic, and Malaysia is not spared.

The Statistics Department recently revealed that our unemployment rate spiked to 5.3% in May, and warned that the economic downturn is so severe that it is likely to be worse than the recession in 1987. Should that happen, the country could hit an all-time high of more than a million unemployed people. As it is, one out of 20 working adults has lost their source of income.


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Comments


  • Well said.

    Posted 2 months ago by Elyse Gim