According to the Labour Market Review of Q1’2021 released by the Department of Statistics (DOSM), underemployment of tertiary educated individuals had breached the 2 million mark for the first time in Malaysia1. The underemployed are people who are employed at less than full-time or at jobs inadequate with respect to their training or economic needs.
The underemployment rate had increased at an alarming rate of 43% between Q1’2019 and Q1’2021.
The report revealed that about 2 out of 3 underemployed individuals are youngsters between the age of 15-34 years2. This debunks the myth propagated by the right-wing politicians and neoliberal economists that young graduates are too picky and demanding about their jobs.
Undeniably, there is a serious systematic problem with our national economy which the right-wing ruling politicians need to acknowledge and address immediately.
Globally, the green economy has showcased the ability to create new skilled and high-quality jobs needed to address both unemployment and underemployment3.
Hence, the federal government should focus on promoting smart grid, electric buses, energy efficiency, renewable energy, circular economy etc. Malaysia needs to kickstart the green economy to address the all-time high increase in underemployment.
Parti Sosialis Malaysia (PSM)
Parti Sosialis Malaysia Negeri Melaka(PSM Melaka)
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1https://www.dosm.gov.my/v1/uploads/files/1_Articles_By_Themes/Labour%20Market/Labour%20Market%20Review%20Q1%202021/Labour%20Market%20Review%20(LMR)%2C%20Q1%202021.pdf Pg 8
2https://www.dosm.gov.my/v1/uploads/files/1_Articles_By_Themes/Labour%20Market/Labour%20Market%20Review%20Q1%202021/Labour%20Market%20Review%20(LMR)%2C%20Q1%202021.pdf Pg A-3