KUALA LUMPUR: Unemployment rate in Malaysia is still low at 4% and this is normal for a developing country, Socso EIS chief Datuk Mohd Sahar Darusman said today.
Last year an estimate of 36,000 people were retrenched or lost their jobs, and in previous years Malaysia has yet to exceed 40,000 people losing their jobs, he added.
"In 2017 about 36,000 people lost their jobs which makes up about 4% of people to be unemployed. This is normal in the economy of a developing country. Even in previous years, say 10-20 years before this, Malaysia has not exceeded 40,000 people losing their jobs," he said during the press conference after the Seminar Briefing on Employment Insurance System (EIS).
Mohd Sahar added that the figure given by Malaysian Employers Federation (MEF) executive director Datuk Shamsudin Baradan is inaccurate.
"We are also wondering how they came about with the figure. It is not good, creates a gloomy scenario for the country," he said when asked about MEF's prediction.