MIDF Research expects Malaysia’s unemployment rate to be around 4.3 per cent in 2020 from 3.3 per cent last year as softer export growth in recent months will likely affect job outlook for the trade sector.
In a note, the research house said the rising number of COVID-19 infections in major export markets such as Europe, the United States and the United Kingdom could possibly hurt trade outlook and therefore hiring plans especially in the current quarter.
Furthermore, it said recovery in the labour market would take time to return to pre-pandemic levels.
News Source & Image Source: BERNAMA
