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KUALA LUMPUR: The government has implemented several initiatives to prepare graduates for the gig economy.
In its Economic Outlook 2021 report published today, the Ministry of Finance (MOF) said that initiatives include the renewal of the curriculum, incorporating project-based learning and improving skills.
With the growing number of graduates joining the gig economy, he said higher education institutions should stop educating and preparing students for full-time employment.
“The workforce must be equipped with the necessary skills to support the gig economy as one of the new sources of growth in the country.
“This includes more training in technology and software development, creative and multimedia work, data entry and analysis, as well as writing and translation,” he said.
To this end, the government has launched Global Online Workforce (GLOW) through Malaysia Digital Economy Corporation (MDEC) with an allocation of RM25 million, as well as the myGIG program to enable Malaysians to earn higher income digitally.
The report indicated that there were 140 platforms providing freelance and self-employment opportunities with an estimated 540,000 active freelancers in Malaysia in August 2020.
Companies like Grab and Foodpanda continue to see an increase in the number of workers per tour. Approximately 190,000 concert workers provide services as passengers and drivers on various logistics and delivery platforms in the country.
“This reflects that many millennials are choosing to exit the traditional workforce, as the gig economy offers greater independence and flexibility in line with their aspirations,” said MOF.
He said the government, in keeping with the growing numbers, is considering new laws to regulate the gig economy and to protect the welfare of gig workers.
According to the report, a 2018 Oxford University of Zurich study found that of the 38 percent of respondents in Malaysia who had a full-time job would seek to enter the job economy in the next 12 months.
The rise of millennials and digital technology are the main factors contributing to the rise.
The report further indicated that the Global Gig-Economy Index in 2019 revealed that the self-employed in the United States had the most significant revenue growth at 78%, followed by the United Kingdom (59%) and Brazil (48%).
According to a survey conducted by MBO Partners in 2017, nearly 60 percent of the workforce in the US would be freelancers and companies will spend up to $ 6 billion to improve the rights of concert workers for the year 2027 ”, he added. – Called
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