‘Ok to Malaysians with the entry of many more foreign workers?’
The first batch of foreign workers to arrive in Malaysia recently is expected to ease the pressure of labor shortages in the country's crude oil palm plantations.
The arrival of the group was confirmed by the Indonesian ambassador to Malaysia, Hermono, who said the foreign workers had safely reached the peninsula today.
Meanwhile, research firm MIDF Amanah Investment Bank Bhd reported that the number of Malaysian labor was getting smaller with a decline of 1.8% in 2020 and another 2.9% in 2021.
Among the main factors of the total percentage decline was because nearly 100,000 workers left their fields of employment since the Covid-19 pandemic struck 2 years ago.
The research firm also outlined that the number of foreign workers comprises 10% of the total labor force in Malaysia.
In addition, the MIDF note reported that Malaysia's unemployment rate is expected to decline by 3.8% this year from 4.6% last year.
This indirectly marks the reopening of the domestic sector and a strong economic fundamentals that will support the country 's growth by 2023.
However, the projected unemployment rate remains high at 3.4% compared to the time before the pandemic.
On the other hand, for the first 4 months of 2022 the employment rate grew 3% year -on -year and unemployment fell 12.6% year -on -year.
