More than 50,000 Malaysians are expected to lose their jobs this year, according to the Malaysian Employers Federation.<\/p>\n
Its executive director, Shamsudin Baradan, said the main sector to be affected would be manufacturing.<\/p>\n
This is followed by the services sectors \u2013 insurance, banking and retail \u2013 and the construction sector, due to the economic situation.<\/p>\n
He said the culmination of several factors that will come into play will hit the job market hard and make it more challenging.<\/p>\n
Some of the factors that will hurt the job market are the levy imposed on employers for hiring foreign workers, and the Employee Insurance Scheme (EIS).<\/p>\n
“The increase in the days for maternity leave from 60 days to 90 days, as well as the possibility of paternity leave will also be factors,” Shamsudin said.<\/p>\n
A total 37,699 Malaysian employees were laid off in 2016 while 38,499 lost their jobs in 2015.<\/p>\n
The number of job losses for the whole of 2017 is not available yet, but as of September last year, 30,700 Malaysians were retrenched.<\/p>\n