Macroeconomic Analysis of Unemployment in Malaysia from 2013 to 2016

This report provides a macroeconomic analysis of unemployment in Malaysia from 2013 to 2016. It begins with an introduction to the Malaysian economy and a definition of unemployment. The report then presents unemployment rates, including those among graduates, and discusses the reasons behind these rates, such as institutional inefficiencies, lack of skills, and entitled attitudes. It further explores the negative effects of unemployment on society and the nation, including increased financial costs, decreased spending power, and potential recessions, along with societal impacts such as mental health issues and political instability. The report concludes by suggesting potential solutions to address unemployment in Malaysia and evaluates the effectiveness of relevant policies. The report uses statistical data and diagrams to support its analysis and provides recommendations for future action.

Running head: MACROECONOMICS
Macroeconomics
Name of the student
Name of the university
Author Note

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Table of Contents
1.0 Introduction:.........................................................................................................................2
1.1 Background of Malaysian Economy:...............................................................................2
1.2 Definition of Unemployment:..........................................................................................2
2.0 Unemployment rates in Malaysia from 2013-2016:............................................................3
2.1 Unemployment rates in Malaysia:...................................................................................3
2.2 Reasons for such unemployment rate among graduates:.................................................5
2.3 Effects of unemployment upon the society and nation:...................................................7
2.4 Solutions to unemployment in Malaysia:.......................................................................12
3.0 Conclusion:........................................................................................................................15
3.1 Effectiveness of policies to reduce the unemployment rate:..........................................15
3.2 Recommendation:..........................................................................................................16
References:...............................................................................................................................18

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1.0 Introduction:
1.1 Background of Malaysian Economy:
Malaysian economy is the fourth largest one in Southeast Asia. Labour productivity
of this country is high compare to that of Indonesia, Vietnam and Philippines. This is because
the country has possessed knowledge-oriented industries by large number. Moreover,
Malaysia has adopted innovative technology for the digital and manufacturing economy.
Thus, this Asian country has a recently developed industrialised market (Nordin & Nordin,
2016). In the beginning of 1970s, Malaysia has had trouble though later the country has
developed its economic condition. During this decade, Malaysia has tried to be like the four
other large economies of Asia, which are, Taiwan, South Korea, Singapore and Hong Kong
and they are called Asian Tiger economies. For this, Malaysia has transited from mining and
agricultural economy to the manufacturing economy. However, Malaysian economy has
started to grow since the 1980s with the help of industrial sector (Rasiah, 2017). In this
context, higher amount of investment has taken a significant part, for instance, heavy
industries have developed as Japanese investors have invested huge amount money in this
sector. Moreover, exports of this country have become the chief reason to grow Malaysia
further. As a result, Malaysia has grown consistently through achieving more than 7% GDP
growth rate and has experienced lower inflation during 1980s and 1990s, respectively
(Tradingeconomics.com, 2018).
1.2 Definition of Unemployment:
Unemployment can be considered as an important issue that can create obstacles for
any developing country to develop its economic condition further (Amiri, Shahriyari,
Shahriyari & Farzin, 2018). Due to insufficient employment opportunity, unemployment can
be seen in those countries though for Malaysia, this condition is better compare to others.
From macroeconomic perspective, both developed and developing countries intend to

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achieve a goal to maximising their output, respectively. However, Malaysia including other
developing countries presently has experienced unemployment among graduates. According
to Okun’s law, potential GDP can be reduced by 2% if unemployment rate in each economy
reduces by 1% (Ball, Jalles & Loungani, 2015). Unemployment rate can be seen in both short
run and long run. During short term, unemployment occurs due to natural processes when one
graduate moves from one job to other or moves from school to job. New graduates enter into
the workforce but remain unable to search a job and this is the main reason of long-term
unemployment. Hence, the term “unemployment rate” measures the percentage of a country’s
total workforce, who is looking for a job and that can be represented as follows:
Unemployment rate= (Number of persons unemployed/ total number of labour force)* 100
After this global financial crisis (GFC), recession has negatively affected the global
youth population. In 2013, this youth unemployment rate has reached at a historic peak of
13.2% and has remained at 13.1% in 2016. As a result, this global youth unemployment rate
has become three times higher compare to the unemployment rate of adults while this rate has
remained more than two times higher compare to the overall global unemployment rate
(Tyrrell, Bond, Dogaru & Manning, 2017). In Malaysia, this rate among fresh graduates has
also increased from 30% to 34% between 2013 and 2016. Moreover, according to the
Department of Statistics Malaysia, national unemployment rate in the labour force has
remained 3.5% among 14 million Malaysians (Lam, Hassan, Sulaiman & Kamarudin, 2018).
This report has intended to focus on unemployment rate of Malaysia among graduate
between 2013 and 2016. To discuss this, the report has used statistical data and diagrams to
analyse this employment in Malaysia and other countries, properly. Moreover, it has
discussed about impacts of this economic phenomenon on economy and society of this
country briefly.

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2.0 Unemployment rates in Malaysia from 2013-2016:
2.1 Unemployment rates in Malaysia:
In Malaysia, the unemployment rate has measured the number of people, who are
searching for a job actively as a percentage of the total work force. In 1997, due to financial
crisis, the country has reached at a higher unemployment rate of 2.5%. However, after this
crisis, the economy has experienced unemployment rate from 1997 to 2010 though it has
remained below 4% (Tradingeconomics.com, 2018). In 2013, this rate has increased again
and has remained at a higher level though this unemployment rate has fluctuated after this
year. Instead of this, Department of Statistics has stated that Malaysia has achieved full
employment in 2013 with its unemployment rate of 3.1% while other developing countries
cannot achieve this full employment level.
According to the Labour Force Survey Report, working age population in this nation
has been considered between 15 to 64 years (Del Carpio, Özden, Testaverde & Wagner,
2015). This report considers six main indicators, which are, statistics on labour force,
employed and unemployed person, total population outside labour force, labour force
participation rate (LFPR) and unemployment rate. In 2013, total number of labour force has
remained at 13.6 million while in 2016 it has become 14.7 million. Moreover, labour force
participation rate has increased from 67% to 67.7% between 2013 and 2016. Unemployment
rate, on the other hand, has increased from 3.1% to 3.4% during this period though it has
decreased in 2014 (Dosm.gov.my, 2018).

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Figure 1: Unemployment rate of Malaysia
Source: (Tradingeconomics.com, 2018)
Figure 1 has represented unemployment rate of Malaysia, where this rate has
fluctuated drastically since 2013. During the ending phase of 2014, this rate has decreased
significantly. However, after this year, the unemployment rate has increased again and in
2016, it has become 3.5% (Tradingeconomics.com, 2018).
2.2 Reasons for such unemployment rate among graduates:
Graduate unemployment rate means unemployment among people, who have an
academic degree. According to some researchers, due to unemployment and
underemployment, graduates have had trouble within their lives (Shamsudin et al., 2017).
The chief reason behind this phenomenon can be considered as institutional inefficiency and
effectiveness.

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Figure 2: Youth unemployment rate of Malaysia between 2007 and 2016
Source: (www.statista.com , 2018)
In recent years, fresh graduate in Malaysia have experienced unemployment issues,
which can be increased further in future. Consequently, it has become difficult for an
individual to find and apply for a proper job after remaining unemployed for a certain period.
The youth unemployment rate of this nation has reached at 10.7% in 2015, which is three
times higher comparing to the country’s unemployment rate of 3.1%. Hence, among regional
economies, Malaysia has received the unemployment rate by double-digits despite of lower
unemployment rate. According to the Department of Statistics Malaysia, the rates of
unemployment among fresh graduates have increased from 30% to 34% between 2013 and
2016. In 2015, 405000 youths have completed their higher education while unemployment
rate of them has become 15.3% (www.statista.com , 2018). Moreover, among 273373, only
53% graduates have found jobs within six months of their graduation. According to a 2016
report, 200000 graduates have remained unable to find jobs in Malaysia.

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Figure 3: Youth unemployment rate across various regions in 2015
Source: (Lam, Hassan, Sulaiman & Kamarudin, 2018)
The above figure has represented a statistical diagram of youth unemployment rate
among various regions including Indonesia, Philippines, Singapore and Malaysia for the year
2015. This chart has also considered Korea, Vietnam and Thailand. According to this
diagram, the unemployment rate among youth has become high in Indonesia, which is, 21.6%
while in Thailand, this rate has become lowest one, which is, 3.4%. However, for Malaysia,
this youth unemployment rate in 2015 has become 10.7% (www.statista.com , 2018).
In this context, three factors can be considered for which unemployment has occurred
among graduates in Malaysia. Those adversely affected factors are mismatch between focus
of educational institutions and needs of industry, lack of skills and experience among
graduates and possessing an entitled attitude. In Malaysia, educational system is exam-
oriented though students in their higher education level receive lack skills related to jobs
(Wan et al., 2017). On the other side, labour market in this country is dynamic due changing
pattern of technologies and production system. As a result, product market changes demand
for expertise and skills. For this, great disparity has occurred between static educational
system and dynamic production system of industries. This disparity creates second cause of

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unemployment among graduates due to lack of experiences and skills. Industries prefer
graduates, who have essential skills along with experience. Moreover, an entitled or bad
behaviour among students have also generated difficulties to find a proper job. Graduates
prefer to work within an environment, which gives convenience and comfort. Moreover, they
become selective about their job and salary package.
2.3 Effects of unemployment upon the society and nation:
Unemployment affects the society and a nation adversely due to various reasons that
can be described further. This negative economic phenomenon can increase financial costs
while spending power of the family and the unemployed person can decrease. Moreover, the
economy can experience recession (Wulfgramm, 2014). Society can also experience negative
impacts as well like increasing mental health problem and health disease, political issues and
insecurities among employees and so on. Those factors are described as follows:
Increasing financial costs: Due to increasing unemployment, financial costs of the
government of a country can increase significantly for which the nation can suffer adversely.
In many countries, the government provide benefits to unemployed persons for maintaining
their minimum standard of living and for controlling social wellbeing (Drydakis, 2015).
Hence, for increasing number of unemployed persons governmental expenditure can increase
as well and this in turn can force the nation to reduce production along with income.
Spending power: For an unemployed person, spending power decreases drastically. Thus
due to increasing number of unemployed person, total amount of consumer expenditure can
decrease further of a country (Korkmaz, 2015). This in turn can decrease the aggregate
demand of this economy. Thus, the entire economic condition of this nation can affect
adversely.
Decreasing spending power of the employed person: Excessive number of unemployment
can create insecurities among employed persons for which they intend to save more amount

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money compare to their spending. Thus, aggregate demand and source of capital
accumulation for a particular nation can be reduced and this in turn can adversely affect
aggregate production of a nation.
Recession: Increasing unemployment rates can affect other economic factors adversely, for
instance, per capita income, costs and quality of health care, poverty and standard of living.
Those factors can reduce economic growth of both developed and developing countries.
Moreover, those economic factors can negatively influence society as a whole. Those
economic factors can also be described further.
Unemployment does not affect a person but also affect the family and society in the
long run, as well (Kunze & Suppa, 2017). These affects can be described as follows:
Mental health problem and health diseases: Due to unemployment, unemployed person
can suffer from various mental health problems such as low level of self-confidence, feeling
depression, unworthy and hopelessness. Hence, frustration and tension can generate general
health issues of those unemployed persons.
Political issues: Citizens can loss their trust on government and on their administrative
power due to large number of unemployment. They can think that the economy can
experience economic stability in future due to insufficient policy and controlling power of the
government.
Discourage taxpaying citizens: Unemployment also generates frustration and discontent
among taxpaying citizens. Due to excessive public expenditures, the government increases
tax rate to meet the huge demand of its unemployment fund. Consequently, tax burden
increases among tax payers and this in turn negatively influence them to give accurate
amount of tax to the government.
Standard of living: Due to large number of unemployed persons and limited job
opportunities, the economy experiences strong competition for jobs. Moreover, negotiation

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power of a candidate regarding salary also decreases. As a result, standards of living for an
unemployed person and his or her family decrease (Sosnaud, 2016). Moreover, this situation
can be observed for an economy as a whole, where standard of living of entire unemployed
persons and their family decline due to lower salary packages and income.
Crime, violence and suicide: Higher number of unemployment can increase crime and
violence by large number within a society. Youth can start robbery or other illegal activities
to earn money for supporting their family and their own needs (Kubrin, Hipp & Kim, 2018).
On the other side, suicide rate among those unemployed graduates can also increase further
due to higher level of depression and lower standard of livings. In addition to this, social
outgoings among those youth also decrease, as they do not want to interact with other people,
friends and family members. However, due to this social issue the economy losses many
skilled employees. Unemployed people remain unable to show their skills for a long time and
consequently, they loss their knowledge over time.
Stigma: Unemployment brings the disgrace with it and an unemployed person bears this.
This is because no one wants to be termed as unemployed after completing certain level of
higher education.
Increasing effect of unemployment rate on Malaysian economy:
Increasing unemployment has also affected Malaysian economy adversely. Crime
index of Malaysia has increased by 4.6% between January and April in 2016 due to
increasing number of property crimes (Habibullah et al., 2014). Violent crimes have
increased in Malaysia in the form of robberies and assaults in 2015. Foreigners have also
experienced petty theft like purse snatching, smash theft, snatching and residential burglaries.
Other forms of non-violent criminal activity include automobile theft, cyber crime and credit
card fraud (Lim, 2017). Hence, the Department of State becomes concerned about the
chances of terrorist attacks against citizens America.

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Consumer spending of this country has also affected adversely as the number of
unemployment has increased sharply over the year. Due to no income or lower income,
unemployed persons including graduates and youth, have remained unable to spend more
amount of money during 2013 and 2014. However, after 2014, this rate has increased sharply
and in 2016, it has reached at a higher level.
Figure 4: Consumer spending in Malaysia between 2013 and 2016
Source: (Tradingeconomics.com, 2018)
Figure 4 has represented this trend by an upward increasing curve focusing that
consumer spending of this country has increased over the year. In 2013, consumer spending
has remained below 120000 MYR million though in 2016 this rate has increased above
140000 MYR million (Tradingeconomics.com, 2018).
In addition to this, gross domestic product (GDP) growth rate of Malaysia is also
required to consider for understanding the impact of unemployment on the country’s
economic condition (Yelwa, David & Awe, 2015). As income of a consumer is considered
within national income or GDP, higher amount employment can help the country to increase
its national income while unemployment leads this rate to decrease further. The following
figure has represented this situation.

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Figure 5: GDP growth rate of Malaysia between 2013 and 2016
Source: (Tradingeconomics.com, 2018)
According to figure 5, national income of Malaysia has decreased over the year
between 2013 and 2016. At the ending of 2013, this rate has remained around 1.8% while at
the end of 2016 this rate has decreased and become 0.8% (Tradingeconomics.com, 2018). As
unemployment is increasing since 2013, the GDP growth of this country has decreased as
well.
2.4 Solutions to unemployment in Malaysia:
To reduce unemployment rate within country, the Government of Malaysia has
implemented various policies. Those actions are described below to evaluate that whether
those have solved unemployment related problems within country or not.
Malaysian Employers Federation (MEF) action:
President of the MEF has announced that in 2017, more number of workers can be
retrenched compare to previous years as the economy has experienced challenges. Moreover,
some companies have implemented game-changing technology (Seman & Suhaimi, 2017).
Thus, MEF has taken various actions that are:
1. To retrench foreign workers

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2. To follow guidelines implemented by the Ministry of Human Resources
3. Compensation
1Malaysia Training scheme (SL1M):
The government has introduced 1Malaysia Training Scheme in 2011to develop
employability, capability and ability of graduates to obtain employment opportunity in
collaboration with Government Linked Companies (GLCs) along with corporate social
responsibility (CSR) of private sector. According to those social responsibilities, companies
will provide training and proper job placement to graduate students, who require
opportunities to advance their career and to become qualified for tax incentives. The chief
objective of this government program is to enhance the number of skilled workers for
fulfilling aspiration of the country (Chan, Winterton, Emelifeonwu & Salleh, 2017). Those
well-known companies like tabung haji, Sapura Kencana Petroleum and Telekom Malaysia
(TM) have been provided assistant and recommendation for proper form of methods, training
programmes and tasks that can cover soft skills and on the job training of one year. However,
those industries can reduce this duration of training by six months if those graduates perform
efficiently (Noor, 2017). Moreover, those companies can hire them as a permanent employee.
The chief target of those companies is to focus on unemployed graduates, who have hold a
bachelor’s degree and those companies are required to be a legitimate one that can provide
training scheme. Those companies, recognised by economy Planning Unit, require ensuring
that all candidates are employed appropriately before the end of programme.
Regulations for hiring foreign workers:
One of the chief reasons of unemployment among graduates in Malaysia is hiring
foreign workers by large number. Those skilled and experienced workers have decreased the
number of available jobs for domestic employees significantly. The government policy of
Malaysia towards foreign workers is slow and confused. However, government has decided

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to prevent the recruitment of new foreign workers, as 4 million workers are illegal. Those
unskilled workers have come from Bangladesh, Myanmar, Nepal, Vietnam, Pakistan,
Indonesia and Philippines (Del Carpio et al., 2015). On the other side, foreign workers, who
are entering into the country with legal permission, can enhance national output and
productivity with their skills. Hence, this governmental decision is logical and rational as
Malaysian population is increasing day by day. Moreover, companies, who want to hire
foreign employees, can recruit existing foreign employees and others whose permits have
been expired under Illegal Immigrant Comprehensive Settlement Programme (Ab Hamid, Ab
Aziz & Amin, 2018).
Moreover, Malaysia intends to discourage foreign unskilled workers through levying
more tax on the manufacturers and others. However, this new policy adds pressure on
producers by increasing production cost. Consequently, many experts have criticised this
prevailing effort because manufacturers at the end have reduced their benefits. Many
industries have affected adversely due to this decision, where employers are forced to pay
annual levy because of their foreign workers (Devadason & Meng, 2014). However, the
government has not informed those companies before implementing this policy. In addition
to this, the president of small and medium enterprises has opposed this decision as employers
of those enterprises have experienced risks to lose their legal foreign workers.
Fiscal and monetary policies of the Government and Employment Insurance Scheme:
The government of a country takes monetary policy to cut interest rates for increasing
aggregate demand (Philip, 2014). On the other side, through fiscal policy, the government
cuts taxes to increase aggregate demand. Fiscal policies can decrease unemployment through
increasing aggregate demand and economic growth rate (Huidrom, Kose & Ohnsorge, 2018).
This implies that by producing more, a firm can increase its demand for workers and this in
turn can decrease demand-deficient unemployment. Many economists of Malaysia have

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stated that the government has taken proper monetary and fiscal policy in 2017 to control
GDP growth.
In 2018, Employment Insurance Scheme has taken implemented. It is a cost to both
employees and employers and the contribution rate is unknown. However, this is a payroll tax
for workers and a cost for conducting business for employers.
Foreign Direct Investment (FDI):
Foreign Trade Investment can influence job creation of a country in a same direction,
which means, higher amount of FDI helps a country to create more employment opportunity
and consequently gross domestic product (GDP) of this country increases further and this is
true for Malaysia as well (Irpan et al., 2016). However, Malaysia has not obtained positive
impacts towards economic growth and unemployment rate because of insufficient FDI. This
is because recession and exchange rate fluctuation are unpredictable for this developing
country. Hence, proper management is required to manage FDI.
3.0 Conclusion:
3.1 Effectiveness of policies to reduce the unemployment rate:
This data has discussed about unemployed graduates in Malaysia with some proper
statistical data. At the beginning, this report has described about economic background of
Malaysia through considering its significant economic growth within period and
consequently it has become fourth largest economy in Southeast Asia. However, after 2013,
youth unemployment of this country has increased and has reached at a higher peak.
According to some economists, this can increase further in coming years. The country has
experienced this type of unemployment due to some reasons such as mismatch between
educational system and needs of industry, insufficient skills and experience among graduates
and possessing a bad attitude. Moreover, foreign employees have also reduced employment
opportunities if those graduates. The skill and experience gap between foreign employees and

16MACROECONOMICS
domestic employees have created this gap. The report has also focused on various impacts
that a country or nation can experience due to this negative economic phenomenon. It is
observed that due to lack of employment opportunity, an economy can experience huge
financial crisis while spending power of this unemployed youth and his or her family
decreases. As a result, the economy can face recession. Moreover, the society can experience
various negative impacts, for instance, mental health problem along with health diseases,
political instability and lower standard of living. Moreover, crime rate in the country can
increase as well. Economic growth of Malaysia has decreased between 2013 and 2016 due to
this increasing unemployment rate among youth. As a result, the government of this country
has taken various policies to reduce that unemployment rate. However, those policies have
not performed properly between 2013 and 2016 and consequently unemployment rate among
youth has increased even after 2016. Thus, the government can implement other policies to
reduce this unemployment rate and for this, the report has provided recommendations.
3.2 Recommendation:
Firstly, the government of Malaysia can continue foreign direct investment (FDI) to
support Malaysia for expanding its economy that can help the country to achieve world
power and conquer. Increasing amount of FDI can help an economy to reduce unemployment
by generating more job opportunities. This is because a developing country Malaysia has
lower capital accumulation and this in turn has decreased total productivity. Hence,
increasing number of capital accumulation can increase total productivity of this country and
consequently demand for employees can increase further in those industries. However,
domestic investment possesses equal importance as well. For this, the country needs to save
more amount of money for increasing economic growth. Secondly, the government of
Malaysia can obtain unemployment rate by lower than 1%. For this, it is essential to assure
first job for each graduate students after finishing their studies. This type of method can be

17MACROECONOMICS
effective to reduce unemployment rate among youth. This process is not easy but can be
effective for the graduates of Malaysia, as each year huge number of students is completing
their higher studies without any job guarantee. Thirdly, Malaysia can increase free trade
agreement (FTA) with other countries through eliminating trade barriers. This in turn can
increase exports and imports of Malaysia with other countries in world economy and
consequently demand for Malaysian product in international market can increase further. This
can influence companies to invest more amount of money for producing more products by
hiring more employees. This can generate employment opportunities among graduates in
Malaysia. Fourthly, the country can encourage entrepreneurs to innovate new production
technologies, where they can hire unskilled or semi-skilled workers, who do not have any
working experience but have theoretical knowledge. Thus, without an entrepreneurial
concept, educational system across Malaysia can create a system that can help an individual
to create a job rather than to find a job. For instance, Mark Zuckerberg has become an
entrepreneur with his knowledge and has created huge job opportunities in the U.S.A.

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