The global supply crisis began to have a significant impact on the local labor market when 7,057 workers were reported to have lost their jobs in April. This figure showed an increase of 21 percent compared to 5,855 individuals in the previous month.
However, Economy Minister Akmal Nasrullah Mohd Nasir explained that the data still showed a downward trend if measured from the beginning of the year, where January recorded 10,658 people while February recorded 7,512 people.
Realizing that each of these figures has a direct impact on the survival of affected families, he stressed the government's full commitment in optimizing the function of the Employment Insurance System (SIP) or LINDUNG Kerjaya under SOCSO to channel immediate assistance.
In the corporate sector, the country's aviation industry is facing severe pressure following a surge in operating costs and disruptions to international route networks. Geopolitical issues in West Asia that forced the cancellation of several strategic routes have resulted in a decrease in daily flight frequency by 31.5 percent.
Turning to the issue of cost of living, Akmal Nasrullah acknowledged that the retail supply chain is still uncertain with the increase in the prices of several raw materials, although domestic food inflation overall is still at a controlled level. Based on current data, beef prices recorded a decrease of two percent.
Since there are still premises offering more competitive prices, the ministry issued a stern warning to traders not to manipulate the market situation for short-term profits, while confirming that enforcement operations will continue to be tightened.
As a proactive measure, he called on the public to use the PriceCatcher application as a price reference tool to reactivate the “purchasing power” in the hands of consumers.
Closing the statement, Akmal Nasrullah stressed that the government’s absolute focus at this phase is to ensure basic supply security, curb price pressures, and preserve the employment sector.
Any policy interventions that will be taken will be carefully designed, targeted, and guided by macro data to ensure that assistance reaches the target groups effectively and on time.
