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More workers likely to lose jobs in 2020, says AmBank Research
FMT Reporters -January 14, 2020 3:27 PM
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Employers are expected to retrench more workers this year, says AmBank Research.
PETALING JAYA: Malaysia’s unemployment rate could increase from 3.3% to between 3.4% and 3.6% in 2020, according to AmBank Research, as retrenchment exercises begin to pick up the pace.

The bank’s research arm said 2019 saw an estimated 37,260 people laid off compared to 23,697 in 2018, with expectations of more downsizing to occur this year.

It also predicted more people to begin looking for job opportunities in the informal sector.

This comes after the unemployment rate for November remained at 3.2% for the second consecutive month, hitting a 48-month low.




“Based on the labour market data, private consumption will be the anchor for the economic growth in 2019 and 2020.

“However, consumer sentiment is sliding based on the Malaysian Institute of Economic Research survey, which showed a reading of 84 in the third quarter of 2019, the lowest since the fourth quarter of 2017,” it said in an economic report published today.

It added that the number of job vacancies is decreasing, as the first 10 months of 2019 recorded an average of 83,700 jobs compared to 92,200 in the review period.

It reiterated the country’s GDP growth rate at 4.5% and 4.6% for 2019 and 2020 respectively, supported by exports, private consumption and gross fixed capital formation

Ini warning AMBank to his own employee kot

Including ambank personnel. Haha

cukur. can join /k bashing opp

3.4% to 6%

mana pegi janji 1,000,000 work opportunities?

Thanks to technology more people will be out of job lar.. every year the same. Sadly there is a need for jobs to evolve. Just like assembly lines in the 70s lar. year by year pekerja kilang had been reduced in numbers due to robotic and process improvement. The same with office worker.. now with Ai and digital workforce be expect to see mure office worker reduced. And in 20 years from now... office workers are no longer office workers... something else most probably.

Million of job opportunities and bringing back malasian working in singapore..... Ermm... Topkek

Also salahan najib?

as long as i get ma parking claims of $5k+....rakyat tarak kerja....sack HR minister je...

end up both also tak dapat, and our country kena stripped down of cash and asset some more

asal BN jatuh

Economy failing, doom and gloom
Too many elephants in the room
How to survive as we become weaker
Go overseas and become a fruit picker?

all major companies are moving towards AI automation, administrative jobs are being replaced with AI right now.

thats why US slow down on tech, so people can get job

MacDonald also use kiosk to order and pay so need less worker at counter

for now...
cukur still can eat in restaurant.

Why need to move factory to other southeast asian countries?

work as foodpanda/grabfood lel