Major Institutions Provide Upskilling Opportunities to Fight Rising Unemployment
By Ooi Tze Xiong
July 2021 FEATURE
PENANG, WITH ITS population of about 1.8 million, faces a perennial challenge of retaining human capital. Where this was once resolved by hiring from out of state, employers now grapple with caps on workforce – a causal effect of Covid-19 and dwindling profit margins.Until October 2020, SOCSO reported 9,489 retrenchments in the state; this is nearly 10.6% of job losses nationwide since the onset of the pandemic.1 By the tail end of 2020, Penang's unemployment rate rose to 3.5% –...
References
- Ashman Adam. “Socso CEO warns of over 100,000 job cuts by end-2020 if Covid-19 persists” Malay Mail (2020):
- Labour Force Survey Report 2020 Department of Statistics Malaysia (2021)
- Work and Wages of Malaysia’s Youth: Structural Trends and Current Challenges ISEAS-Yusof Ishak Institute (2020)
Ooi Tze Xiong
currently delves into content creation and enjoys piloting drones as a hobby. After years of sojourning in cities across Malaysia and Singapore, he eventually decided to call Penang home.
