Essay On Unemployment In Malaysia

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Unemployment Rate
Unemployment is the condition of willing workers lacking jobs or ‘‘gainful employment’’. In economics, unemployment statistics measure the condition and extent of joblessness within an economy. A key measure is the unemployment rate, which is the number of unemployed workers divided by the total civilian labor force.
Unemployment is an important issue in developing countries especially in Malaysia. High unemployment means that labour resources are not being used efficiently. Hence, full employment should be a major macroeconomic goal of any government because it maximizes output.
Inefficiently of using labor resources will cause to high unemployment rate. The result shows that the economics in Malaysia is better with high employment. In economics, unemployment statistics measure the condition and extent of joblessness within an economy. A full employment should be a major macroeconomics goal because it maximizes output. For many years, the manufacturing has been the strongest sector in the country until it is now being progressively replaced by the service sector. The statistic shows the unemployment rate in Malaysia from 2011 to
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To realize this developed nation, Malaysia must overcome the unemployment crisis. Most of the citizens of Malaysia is oblivious to the fact that the reason for unemployment are not caused only by the government but also the people of Malaysia. Besides that, the companies’ high requirement and demand for their employees in Malaysia, the graduates and the unemployed people have equally high expectation for their jobs in terms of salary, benefits and others of the company. Hence, a lot of people would rather further their studies than settle for the lower salaries jobs. Graduates must eliminate the misconception that the higher their academic qualification, the higher the salary of their job since it is a very incorrect and false

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