KUALA LUMPUR, Nov 7 — The country’s labour market is projected to strengthen further in the fourth quarter of this year with the unemployment rate expected to decline further from an average of 4.67 per cent in the third quarter to 4.31 per cent in the fourth quarter of 2021.
EU-ERA is a collaborative research centre between the Office of the Employment Insurance System of the Social Security Organisation , the Ministry of Human Resources and Universiti Putra Malaysia Consultancy & Services . “Socso through the EU-ERA also estimates that the 2022 unemployment rate will be around 4.0 to 4.1 if the Gross Domestic Product grows at a rate of between 5.5 to 6.5 percent,” he said.
According to the report, in the third quarter of 2021, the job market was found to remain a ‘trapezoid’ which reflects the imbalance between job seekers and job opportunities, but the recovery of the labour market in the quarter is expected to reduce the gap.
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