The EIS program provides financial and other assistance to unemployed Malaysians.
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The Social Security Organisation (Socso) reports that over 90,000 Malaysians have filed for unemployment assistance throughout the Covid-19 pandemic.
As of October 28, 2020, a total of 90,470 people have applied for aid under the organization’s Employment Insurance System (EIS) – a program which offers financial and job search assistance to private-sector employees covered under the scheme.
Socso’s data from October 22 showed that the pandemic had been especially hard towards workers from the manufacturing industry, with more than 20,000 people losing their jobs.
This is followed by the job losses in the food and beverage (F&B) industry at 13,053 and the retails sector with 12,450 unemployment claims being recorded.
Figures also show that 23,022 people working in the professional category had lost their income this year, followed by 17,240 technicians and 11,762 people working in management positions.
Reportedly, the bulk of this unemployment wave hit Klang Valley the hardest, as Selangor notes 27,619 job losses followed by Kuala Lumpur’s 23,882.
Meanwhile, Penang also recorded some 9,489 cases of unemployment.
Socso also revealed that there are over 745,000 unemployed Malaysians who are not protected under the EIS.
As of August, data from the Statistics Department (DOSM) notes the country’s unemployment rate stood at 4.7%.
Assistance and new jobs?
According to Socso, a total of 33,341 Malaysians who lost their jobs during the pandemic have been re-hired through the EIS program.
EIS offers monetary benefits and other assistance to Malaysian citizens are registered and make contributions to the program via monthly deductions from their paychecks and payments made by their employers.
Under the program Malaysians who have suffered losses in income can claim the following;
Job Search Allowance (JSA)
-Financial allowance of up to 6-months to replace a loss of income while you look for a new job.
Reduced Income Allowance (RIA)
-A lump-sum payment for people with multiple sources of income but have lost one or more of them.
Early Re-Employment Allowance (ERA)
-A lump-sum payment for JSA recipients who’ve already gotten a job.
Claims are only provided based on the person’s previous job salary figure and the amount of monthly contributions that have been credited to Socso.
EIS also provides assistance through the Re-Employment Placement Programme besides providing vocational training and career counselling in support of those seeking new careers.
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