Jobless rate to ease, economy stable by mid-year says Mustapa

KOTA BHARU: Malaysia’s unemployment rate is expected to be more stable by the middle of the year said economics minister Mustapa Mohamed.

He said the unemployment rate in January was 4.9%, compared with 5.3% in May last year, which was the highest recorded during the Covid-19 pandemic period.

“It is hoped that the situation will improve and we expect by the middle of the year the situation will be more stable,” he told reporters here today.

He said the economy has already shown signs of recovery. “The Covid-19 pandemic has caused a lot of people to lose their jobs but the economy is now slowly recovering. The government is doing its best to help the country as well as those affected by the pandemic,” he said, according to NST Online.

Malaysia Will See 116,000 Fresh Graduates Without A Job This Year

Mustapa, who is MP for Jeli, said the government has introduced five stimulus packages worth about RM325 billion, and Kelantan received about RM1.9 billion.

Law minister Takiyuddin Hassan said a special committee comprising five ministers and deputy ministers had been formed to assist the federal government in getting feedback on its programmes.

“The committee members will visit all states and get their responses among others about the state of emergency as well as other efforts made by the government to resolve the problems. We will report our findings directly to the prime minister for the next course of action,” he said.