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  • Essay / High unemployment rate in Malaysia - 1822

    1. INTRODUCTIONThe term unemployment refers to unemployed people who are actively and radically looking for work but are unable to look for work. Unemployment measures the health of the current economy. Currently, the most cited unemployment is the unemployment rate itself. This is equivalent to the number of unemployed divided by the number of active people. Unemployment is a fundamental economic factor due to the current high cost of unemployment. Meanwhile, Malaysia's unemployment rate for the current year is below 3.3 percent, according to recent reports. The unemployment rate fell to 2.9 percent from 3.5 percent. Unemployment rates in Malaysia have not been stabilized due to the increase in Malaysia's population. However, in recent years, in 1985, the unemployment rate in Malaysia reached around 6.893 percent. The current reported population of Malaysia, as of 2013, was 29.7 million (epu.gov.my). Due to the increase in population in Malaysia, employment or labor rates have become slow. Furthermore, the country's current crime rate as of August 2013 was 10.1 percent, which is equivalent to 63,221,000 crime cases (themalaysianinsider.com). The reason for the increase in crime rates in recent years is due to concerns over poverty, insecurity and underdevelopment. Crime has therefore become a major concern for policy makers, particularly in Malaysia (UNODC, 2005). Looking at bar graph 1, crime rates increased from 2007 to 2012. Unemployment is a necessary economic circumstance, because nowadays the cost of employment is becoming higher than usual. The established agony is really serious: a single unemployed person is probably suffering from loss of esteem, depression...... middle of article...... Malaysian graduates: attributes of graduates, teacher competence and quality of education", Procedia - Social and Behavioral Sciences, Volume 112, February 7, 2014, pages 1056-1063, accessed April 8, 2014, ~ Tang, CF 2009, "The Linkages between Inflation, Unemployment and Crime Rates in Malaysia”, Int. Journal of Economics and Management 3(1): 50 – 61, ~ Gopal, S 2012, Effects of the minimum wage in Malaysia, accessed April 5, 2014, ~ Teoh, S 2012, The minimum wage will lead to unemployment and inflation, say employers and economists, accessed April 6 2014,