3 Out Of 5 In The Informal Sector Are Out Of Work
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For every 5 workers who were retrenched recently, 3 were aged 40 years and below with most of them coming from informal sectors which do not offer any social security.
According to Malay Mail, a survey was conducted which showed that they were earning less than RM4,000 a month with 50% of them ending up losing their business due to Covid-19.
As for those who manage to keep their jobs, they’ve experienced a 90% income reduction.
They also admit that they don’t have enough savings to last them for a month.
The stats show that 2.5 million workers make up these informal sectors and the number of those within the 20 to 30 age brackets who work in these sectors have doubled from 6% in 2016 to 12% in 2019.
DM-Analytic Sdn Bhd economist Zouhair Rosli said that the aid given out so far has been insufficient for those who are self-employed or were laid off.
He said more jobs should be created for them as a safety net in times like these and self-employed youths should continue getting at least RM1,000 per month in government assistance until the end of the year.
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