High Unemployment Rate In Malaysia Essay

1927 words - 8 pages

The term Unemployment means when the unemployed who are actively and drastically searching for employment but is unable to search for a job. Unemployment measures the health of the current economy. Currently, the most actively cited unemployment is the unemployment rate itself. This equals to the unemployed persons divided by the number of people in the labor force. Unemployment is a fundamental economic factor due to the current cost of unemployment which is high.
Meanwhile, unemployment rates in the current year of Malaysia have been below 3.3 percent, based on recent news. The unemployment rate has fallen to 2.9 percent from 3.5 percent. The unemployment rates in Malaysia have not been stabilized due to the increasing population in Malaysia. However in the past years, 1985, Malaysia’s unemployment rate has reached to about 6.893 percent. The current population stated in Malaysia, 2013 was 29.7 million, (epu.gov.my) due to the increasing population in Malaysia, job or labor rates has become slow. Furthermore, the country`s current crime rates last August 2013, was said to 10.1 percent equivalent to 63,221 thousand cases of crime rates (themalaysianinsider.com). The reason to crime rates increasing during the past years has been due to the worries of poverty, insecurity and under-development, thus crime has become a major worry for the policymakers including Malaysia (UNODC, 2005). In view of Graph Bar 1, are the increasing rates of crime trends from the year of 2007 till 2012.

Unemployment is a requisite economic circumstance because these days the cost of employing is getting higher than usual. The agony established is really bad that an unemployed sole is likely suffering from loss of esteem, depression and totally disdained from the public.
To look into the labor market, economist uses the demand and supply model. In context of labor market, the employees always represent the demand and the labor to the supply. It is certainly very important that a country implements minimum wage policies. Minimum wages is legally the lowest wage of the entire employer could pay the employees or the labor. The minimum wage is illegal. Minimum wages leads to poverty in certain families as the wage is insufficient At the minimum wage of RM900 per month for Peninsula and RM800 for East Malaysia the quantity of labor. (economicsintaylor.com) with the current price increase in the global market the minimum wages of which is spelled by the
Malaysian government is unlikely sufficient to run a family of four. This situation increases the individual to indulge in further crime events to feed and give supply to the family.

However, with all the factors above the crime rates in Malaysia is increasing from 1997, the statistics compiled by Royal Malaysian police (RMP) department indicate that there was over 167,000 cases of crime rate that has been reported from year 2000 till today and it was said that 70 percent of reported cases...

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