Malaysians Concerned About Job Security, Want More Aid And Up-skilling, Survey Says
Subscribe to our new Telegram channel for the latest updates on Covid-19 and other issues.
The Movement Control Order (MCO) has been in effect for almost two months, causing many to feel stressed over their job security.
According to Malay Mail, a recent study by market research company Green Zebras Sdn Bhd showed that most Malaysians hope the government will consider taking certain measures to revive the economy post-Covid-19.
This survey was undertaken to understand how Malaysians feel about their jobs today and what they suggest the government should do to safeguard jobs as we move forward in the new normal.
Steve Murphy, managing director and co-founder of Green Zebras
Malaysians are hoping for more government aid: 74% wanted the government to provide financial aid to employees, while 59% wanted financial aid for employers.
52% of respondents believe that unemployment will go up significantly. Another 37% believe that unemployment will only increase somewhat. Only 5% said that unemployment rates will remain unaffected, while 6% said the employment rate will decrease after the CMCO is lifted.
Job security is also weighing heavily on Malaysian’s minds, as 28% of respondents have reported experiencing a salary cut, while 13% have lost their jobs. 9% reported a high level of uncertainty in their current jobs, foreseeing a salary cut or job loss in the near future.
Only 34% of respondents reported that their salary has remained the same, while a measly 2% noted an increase in salary.
Crime also seems to be a big worry during this time. 58% consider it important to counter the black market as a key solution to safeguard jobs during this MCO, while 47% stated that businesses must be protected from criminal activities.
This points to Malaysia’s shadow economy, which is estimated at RM300 billion, worth about 20% of the country’s GDP. The shadow economy is trade and income that is not reported, often coming from corruption, smuggling, and other illegal activities.
(Credit: Freepik)
Retail and Trade Brands Advocacy Malaysia Chapter managing director Datuk Fazli Nordin commented on the survey findings, noting that if authorities focus their efforts on reducing the shadow economy and black market, legitimate businesses and Malaysia’s regular economy can recover at a much faster pace and provide enough jobs to reverse unemployment.
Moreover, by curtailing the black market, businesses compete on a level playing field that can accelerate Malaysia towards a high-income nation.
Datuk Fazli Nordin
He advises the government to address the problem with rigorous enforcement coupled with reviewing taxes and excise duties to close the price gap between legitimate products and illegal goods.
See the survey report here:
Share your thoughts with us on TRP’s Facebook, Twitter, and Instagram.
