Job Market Outlook And Salary Snapshot For 2021

Domestic tourism post-MCO

In 2019, graduates made up 5.29 million, or 21.3%, of the 24.89 million people aged 15 and above who were deemed the working-age population. Of the 5.29 million, 80.3% were employed (4.25 million), 3.2% were unemployed (170,300) and 16.5% (869,800) were outside the labour force, according to the Department of Statistics Malaysia’s (DoSM) Graduates Statistics 2019 report. The 4.42 million graduates in the labour force translated into a graduate labour force participation rate of 83.5% in 2019, down 0.1 percentage point from 83.6% in 2018. Of the 4.42 million, a total of 2.42 million had at least a degree while two million had diplomas. Some 96.1% of graduates in the labour force were employed and the graduate unemployment ...

All about Malaysian graduates: profile and wage

The Covid-19 pandemic has battered the hospitality industry worldwide, and Malaysian hotels are expecting the worst year in history. Data from the Malaysian Association of Hotels (MAH), based on surveys conducted among its members, indicates an average occupancy of 25.41% in 2020, down from 64.49% last year. This decline is expected to lead to the sector losing RM6.36 billion in revenue, forcing many hotels to temporarily close their facilities or, worse, shut down permanently. Others have resorted to reducing their room inventory, implementing salary cuts or laying off employees. On brighter note, forward bookings have started coming in and demand is seen from as early as July.

Covid-19 wreaks havoc on hotel industry

The median monthly household income in Malaysia increased to RM5,873 in 2019 from RM5,228 in 2016. It grew at a slower rate of 3.9% a year compared with 6.6% in 2016. At state level, Kuala Lumpur recorded the highest median income (RM10,549), followed by Putrajaya (RM9,983) and Selangor (RM8,210). Here is some other interesting data on household income, as gleaned from a 2019 survey by the Department of Statistics.

Household income in Malaysia

There may have been an increase in salary and wages in 2019, but the high unemployment rate and economic contraction projected for this year on the back of the Covid-19 pandemic cast a grim outlook for Malaysians this year.