High Unemployment Rate in Malaysia Essay

Unemployment refers to when an individual is actively seeking work and is aged 15 years or over, but is unable to find work (not hired). There are many causes and effects of unemployment that result in different actions being made by the Australian government through their use of both monetary policy as well as fiscal policy.

Over the past decades, early 1980’s to 2010 the unemployment problem in Malaysia shows the fluctuations year by years. Besides, unemployed graduates have become the popular case in Malaysia that need more concern by the government. A statistic shows in year 2006 involving 132,900 graduates from institutions of higher learning all over Malaysia indicated that 30.7% of graduates remained unemployed six months after graduation, while 5.7% were still awaiting job placement (Tan, 2007). According to Nor Hartinin, there are more female graduates in this country were unemployed because they lacked with the relevant skills required in the labour market such as communication skills despite having academic results with flying colours. The

Unemployment happens when a man who is effectively looking for employment is not able to find some kind of employment. Unemployment is regularly utilised as a measure of the economy’s wellbeing. The most regularly referred to gauge of unemployment is the unemployment rate. This is the quantity of unemployed persons divided by the quantity of individuals in the work force.

In this globalization era, as various countries see growth in their economy, there has also been significant differences in the wages set to employees in different countries. The lowest wages set by the law that are fixed to a particular amount which is also defined to be the price floor below which workers shall not sell their labor, has its own effects. The minimum wage law came into force as a matter of social justice amongst the low-wage workers, also to reduce exploitation and see that workers can afford the standard basic living expenses and necessities, not to increase the unemployment rate, indeed to increase the employment rate.

Before one can understand the various components of unemployment it should first be understood what exactly unemployment is. Unemployment is defined as people who are currently not employed, available for work and tried to find a job within the last 4 weeks. (Makiw 299). This means that not all people without a job are necessarily considered unemployed. Workers without a job who are no longer searching for a job fall into the category of discouraged workers. This group of individuals is not included in the figure for finding the unemployment of a

Unemployment is one of the main financial complications in America today. Individuals who are measured as unemployed if the individuals is looking for work or laid off for more than a week. There are numerous diverse details why an individual could be jobless. Three of those causes are cyclical, structural and seasonal unemployment. The administration tries to find answers in order to decrease unemployment by making up guidelines.

Unemployment is far more vital to the economy and plays a huge role in keeping our economic system revolving across the United States. The percentage of unemployed workers in the labor force as a whole distinguishes what the national unemployment represents. Unemployment is predominantly brought to the attention of the public when the economy is in distress and is widely debated between economists trying to dispute their apprehensions. Disconcerting issues consist of those who are unemployed losing wages that support their families, which in turn causes the nation as a whole to lose its contribution to the economy. When the unemployed lose their purchasing power, firms may begin layoffs, causing a cascading effect of catastrophe through

Unemployment is the state of not having or finding work. Unemployment is a big issue in today’s society with the joblessness rate being 199.4 million people or 6% of the entire world. Being so hard to find a job, the unemployment rate begins to rise. It is projected that the unemployment rate will add up 1 million additional people during the year of 2017.

Unemployment is when you don’t have a job. Unemployed people are those who don’t have a job but are actively looking for work. Unemployment cannot be driven down to zero because the lower the unemployment rate is, the harder it will be for businesses to hire new employees. The harder it is to find qualified employees, the more

Unemployment refers to the numbers of people not working and can be measured by the claimant count and labour force survey. There are different types of unemployment and each of them requires different policies to overcome them.

In the United States, nearly all of the citizens are trying to look online or the newspaper to find jobs, so they can’t get nutritious food, medical care, have warm clothing, and have a roof over their heads. Half of the unemployed people are homeless, they are going through the smelly, dirty trash bins to get food in their stomachs and also their kids (if they have any). They are live in small,brown, moldy cardboard boxes or sleeping wherever they can to survive. There are about 5.5 percent of people in America that are employed even with a college degree, however, “people who lack high school diploma or GED make up a quarter month 2014 to date” (Bolen). Unemployment is the one of the biggest poverty problems in America. But what is unemployment? Unemployment is described as when people are looking for job within the past four weeks and can’t find work, however, it can also mean an economic condition that is marked by the fact that individuals actively seeking jobs remain unhired (Unemployment Definition). Unemployment affects the United States economic system, and the society in this nation.

Unemployment mostly occurs when one has lost his/her job and spends quit time looking for a new job. “The U.S. unemployment rate was certainly too high in 1975, and most economists would agree that it is too high today.” ( Lucas Jr, P.257-263). Even though

Looking at unemployment, you may consider that a person who is unemployed is in the situation due to their own personal circumstances, they are unable to get a new job and have been unsuccessful at recent job interviews. C Wright Mills would suggest that the unemployment may be due to

Malaysia’s Unemployment Rate since 2000 till present. Notice the peaks after an expansion and troughs after a recession. This graph also indicates the business cycle in Malaysia.

In terms acceleration of economic growth is based on the measurement of GDP, MALAYSIA HAS recorded a growth of 5.1% last year. Although it is lower than 7.2% in 2010, but it was so roaring in the context of a difficult global economic environment and uncertainty. In contrast, global economic growth has dropped from 5.2% in 2010 to 3.8% in 2011 while the economy of the developed countries like USA, Germany, UK, France and Japan also recorded weak growth of respectively 1.5%, 2.7%, 1.1 %, 1.7% and -0.5% in the same year; far lower than Malaysia's achievements. Following a satisfactory GDP growth was assisted by the Federal government revenue increased by RM13.2 billion in 2011 through increased collection of IRB estimate of RM109.7 billion compared with RM96.5 billion the government has managed to reduce its fiscal deficit to 5.0% compared projection of 5.4%. This means that the GOVERNMENT has successfully steered the nation's economy as well as the control and management of public funds wisely in the past 3 years in a row when managed to bring down the fiscal deficit from 7.0% in 2009 to 5.6% (2010) and 5.0% in the past year in a expanding economy.