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PETALING JAYA: The national unemployment rate has fallen for two months in a row as a result of the reopening and rejuvenation of the economy during the period of the recovery movement control order (MCO), says the Minister (Economy) of the Department of the Prime Minister Datuk Seri Mustapa Mohamed. (Photo).
He said that according to the July Workforce Statistics, released by the Department of Statistics, the unemployment rate fell to 4.7% after being at its highest point in May at 5.3%, while the rate in June was 4.9%.
“The number of unemployed in July was 745,100, a decrease of 28,200 people compared to June.
“A large number of economic sectors showed an increase in the use of labor since June.
“The obvious increase is in accommodation, food and drink, arts, entertainment and recreation, transportation, and activities based on information and communication technology, such as e-commerce and call service. electronics.
“The labor market is now supported by the recovery of economic activities. The Industrial Production Index, which covers the mining, manufacturing and electricity sectors, showed positive growth of 2.1% in July 2020 compared to July 2019, after a four-month continuous decline since March.
“Commercial and retail businesses also improved in recorded sales value to RM108.7bil in July 2020, 3.5% lower compared to July 2019,” Mustapa said in a statement on Friday (September 11).
He added that June 2020 saw the highest sales value during the MCO.
“This recovery in the labor market and the economy is in line with the government’s decision to open the economy in stages since May, allowing more businesses to operate.
“Now, most of the economic activities have been reopened.
“The incentive packages through PRE2020, Prihatin and Penjana also accelerated the recovery of the country’s economy,” Mustapa said.
He said that although we have met our recovery goals, the government is aware that there are 745,100 unemployed and this is higher than the 2016-2019 average.
Mustapa also pointed out that there are 104,300 people who are not working due to being temporarily laid off.
“This group is not listed as unemployed as they still have a job and will go back to work,” he said.
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