 |
| Young and jobless | Invest Cyberjaya |
Graduate unemployment was 45.5 of overall jobless amid skills mismatch and demand for low-skilled jobs, says MIDF Research
PETALING JAYA: Youth unemployment was at its highest ever at 10.8% in 2017, of which graduate unemployment constituted about 40.5% or 204,000 of total unemployment due to skills mismatch amid a backdrop where demand for low-skill jobs continues to reign – which in turn may leave the government falling short of its 35% skilled workforce target by 2020, according to MIDF Research.
For every 100 jobs available, there are 76 jobs for elementary occupations and 10 jobs for plant and machinery operators and assemblers, which leaves 14 jobs for the high-skill and other low-skill occupations.
About 86.3% of job vacancies in 2017 were for low-skill jobs which was deemed less suitable for a fresh graduate while high-skill jobs such as professional, technicians and associate professionals, comprised 4.1% of the total job vacancies.
It noted that the high single- and double-digit unemployment rate among youth, defined as those between 15 and 24 years old, as being normal not only in Malaysia, but in Europe, the US and South Korea.
The high youth unemployment rate was mainly contributed by soaring graduate unemployment, despite the steady increase in tertiary-educated workers joining the workforce, which was also the fastest growing segment at 4.1%, followed by secondary at 3.2% and no formal education by 0.3%.
Employment share of professionals and technicians and associate professionals improved to 12.2% and 10.5% in 2017 expanding at 0.8% and 4.6% respectively.
“In terms of share, the rising stake of skilled-worker or tertiary-educated is in line with the Eleventh Malaysia Plan. Under the plan, the government estimated skilled-worker to total workforce ratio to touch 35% by 2020. Nevertheless, we view the ratio is not expected to reach the target at the current pace,” MIDF Research said.
“We forecast the skilled-worker ratio to register at 32% by 2020. Continuous improvement in production efficiency, resource allocations and better technology adoptions under the Industry 4.0 will facilitate and accelerate the productivity level in Malaysia in the long run,” it added.
The overall unemployment rate in the country remained low at 3.4% last year.
Malacca remains as the state with the lowest youth unemployment rate for the seventh consecutive year at 2.9% while Sabah recorded the highest at 13.5% in 2017.
Meanwhile, Selangor the largest employer, 23.2% of total national employment saw overall unemployment rate of 2.8% and youth unemployment rate of 9.4% last year.
The overall youth unemployment rate across all states registered poor performances compared with the previous year, 2016.
In 2018, the youth unemployment rate is expected to fall slightly to 9.9% and the overall unemployment rate to stand at 3.3%.
The job market outlook for commodity-based sectors is expected to improve in tandem with recovering commodity prices. This in line with anticipation of improvement in global trade, and higher demand for export products is expected to benefit industries such as electrical & electronics and mining.- sunbiz@thesundaily.com
Related:
Youth unemployment rate still high | The Edge Markets
S. Korea's youth jobless rate hits record high, with those unemployed ...
Youth Unemployment Soars Despite Gov't Efforts - The Chosun Ilbo ...
https://youtu.be/JQYpJSPrbdk
Rising unemployment among university graduates worrying ...
[PDF]Youth Unemployment Rate Remain High - MIDF
www.midf.com.my/images/.../Econs-Msia-2016-Youth-Unemployment-Rate-Remain-...
Youths told not to be too dependent on govt for jobs - BorneoPost Online
Related posts:
Job drive woos Bentong youths home - Nation
Malaysia's low wages: low-skilled, low productivity, low quality, reliance on cheap foreigner workders...
People-centric logo: The Chinese character
for ‘people’, rén, dominates the entrance to its office. The
growing usage of technolog...
People-centric logo: The Chinese character
for ‘people’, rén, dominates the entrance to its office. The
growing usage of technolog...
Malaysia needs structural reforms says global investor
Arrest decline in productivity and competitiveness in Malaysia
Corruptions, Conflict of interests, politicians and Malaysian bloated civil service
Structural issues including education are holding Malaysia back
Huge Civil Service Size, Attractive Emoluments and Benefits are costing Malaysia !
Prized job: While long-term security like the pension scheme free
healthcare and easy loans have been among the perks of joining the .
..
Bloated civil sevice in Malaysia must cut down the size and salaries
Call on the Government to downsize the country’s bloated civil service
Ministers may face conflict of interest,
says Tunku Abdul Aziz: "If you have no power, you cannot abuse it.
Civil servants hav...
