Essay About Unemployment Rate And Private Sector

Unemployment in Malaysia
Unemployment is a major economic issue that brings a big impact to Malaysia. The unemployment rate in November 2011 was shown at 3.1% according to the Department of Statistic in Malaysia. It does not mean that people are lazy to work. In fact, they are unable to find a job but still actively seeking for a job. Unemployment rate rises as the country plunged into recession. When recession happened, rate of unemployment will increase due to action of lay off workers by major companies that were affected by the bad economy activities.Unemployment normally involved during recession as the people are hard to find income. Hence, government will reduce the taxes and increase the government expenditure by implying expansionary fiscal policy to help the people whereas the Central Bank will low down the interest rate to help the people to get loan more easily. Prices of products and services were decreased in order to reduce the weight of the people’s burden.Unemployment in Malaysia is becoming increasingly serious. Every year many students have graduated from institutions of higher learning either in public or private institutions. A lot of competition for jobs in causing high unemployment. Lack of employment factors there is also a source of unemployment. Competition that exists is there in getting employment in government and private sector. Many graduates more interested in public and private sector to the government because they consider is more efficient and secure the future. Therefore, the parties must take iniasitif particular problem in this competition. Parties also need to establish various new sectors and career seminars in combat unemployment. Leavers, public and private institutions should enter into new areas such as participation in the agricultural sector, small and medium industries and other businesses. Of entering new sectors, the unemployment rate will be reduced and this sector can improve the economy. Students also should be concerned because this