Retrenchment in Malaysia

Source: Labour Department

  • The unemployment rate in the United States sits at a 25-year high of 8.1% (half a million jobs are lost every month)
  • In the euro zone, unemployment is at a three-year high of 8.5%
  • Japan’s unemployment rate is also at a three-year high of 4.4%
  • From January to March 19, 15286 people have been retrenched, 26,567 have had a pay cut, and 30,376 have been temporarily laid off
  • Malaysia’s unemployment rate is expected to rise to 4.5% (from 3.5%)

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