Unemployment rate in Malacca drops to 2.6%

Unemployment rate in Malacca drops to 2.6%

MALACCA: The unemployment rate in Malacca recorded a decrease to 2.6 per cent in the third quarter of 2022 compared to 3.0 per cent during the corresponding period in 2021, the State Assembly was told today.

State Unity, Information, Human Resources and Consumer Affairs Committee chairman Ngwe Hee Sem, said that based on a study by the Department of Statistics, the number of unemployed in Malacca also dropped to 12,100 people in the same period this year compared to 13,800 people in the corresponding period the previous year.

“The Malacca government is always optimistic about the opening of new job opportunities through the state development agenda such as the Malacca Waterfront Economic Zone (M-WEZ) which is a new ‘big move’ and ‘game changer’ to drive the state’s economy.

“Through this project, as many as 1,000 new job opportunities can be created thus increasing the income of the local people and reducing the unemployment rate in the state,” he said in response to a question by Adly Zahari (PH-Bukit Katil) on the state’s unemployment rate.

Ngwe said the state government will also upgrade existing tourism products and implement new development projects, such as Malacca Marine Park on Pulau Undan and business zones in line with the Malacca Free Trade initiative to create more new business opportunities.

The state government, he said, also placed the development of future talent as a policy catalyst through the 12th Malaysia Plan (RMK12) as the country, as well as the state, needed highly skilled human capital to meet the needs of the growing market and economy.

He said the education sector and Technical and Vocational Education and Training (TVET) will also be empowered through the improvement of accreditation, recognition and certification to meet the requirements of Industrial Revolution 4.0 (IR 4.0).

“A rating system for TVET institute will be introduced with the distribution of allocations based on a number of components, including marketability, the wage rate for graduates, as well as industry collaboration and implementers of initiatives,“ he said. – Bernama