Unemployment Rate – Article Review

THE countrys unemployment pose currently stands at 3. 1 per cen prison term compargond with the 3. 4 per cent refinement year, the Dewan Negara heard yesterday. Deputy human being Resources Minister Datuk Maznah Mazlan say the political science was amply harnessing its workforce to keep the unemployment valuate at four per cent and below. This was beca enforce according to internationalist standards, this was considered all-inclusive employment. According to the Statistics Department, the serving of unemployment last year was 3. 4 per cent or 387,9000 flock. Of the total, 65,500 were graduates. In the first quarter of this year, the unemployment percentage dropped to 3. per cent or 381,300. Of the number 71,600 were graduates, she said responding to Senator Khoo Soo Seang. Maznah said the presidency had implemented measures to get ahead fired graduates. These included offering a pitiable benefit scheme with brass activity departments, opportunities for apprenticesh ip and internship, and the 1Malaysia Training Scheme. Under the short return scheme, graduates who describe believe not secured speculates in half a dozen months after completing their studies have the probability to intern at participating authorities linked companies for a year and clear an recompense of RM1,000 a month.Upon completion, the GLCs will helper in finding permanent positions for them. The programmes argon to enhance the graduates marketability and provide exposure so that they do not have to imprecate on the establishment for employment besides target start their suffer craftes, she said. oblige about During 2011 the employment rate decreases from 3. 4% to 3. 1% due to the government attempt to in incorporated all the recourse and to entertain the unemployment rate under 4%. establish on the international standard the unemployment rate of 4% and below considered as full employment.Although the number of race that vacant are diminish but the numbe r of unemployed graduates are increasing. Due to this situation, the government had punish measures to help graduates to get a job. The government offer a short service scheme which move on a job opportunity to them besides giving them skills and internship. The allowance are also provided under the short service scheme. This will help to give the graduates exposure and encourage them to do their own business instead of relying on the government for the job.Analysis. Based on the article, we can close that the type of unemployment that we can see is frictional unemployment. This type of the unemployment occurs when people are in between jobs, entering and reentering the labor force. This whitethorn happen when seraphic graduates are actively seeking for a job. The numbers of unemployed graduates extend by 9. 3% maybe due to the lack of soft skills and induce that most employers seek. The measure that the government took to control the unemployment is direct control measure, which is providing training and good education and job creation in various sectors in an economy.The governments want to encourage the graduates to own a business because when on that point are much trade and transaction, the government revenue will increase. This will guide on to economic growth and therefore can increase in GDP. The notions of change magnitude the unemployment rate The first effect of decreasing unemployment rate is the incomes will increases. This will exact towards to more buying power and accelerating the flash rate. Thus, this will effect to the distribution of income, the savings, payoff cost and balance of trade.The blink of an eye effect of unemployment is cutting businesses will have a hard time succeeding, because everyone is already employed, who is way out to work for them? New businesses will have to raise stipend to entice people to work there which again raises wages and lowers profits to a point where it makes no sense to even start the business. huge levels of unemployment are around 3-5%. The pros and cons of decreasing unemployment rate The pro of decreasing unemployment rate is increase of income and self-respect. Secondly, increase the job skills. Thirdly, decrease mixer and political problems.Fourthly, the gross national product gap becomes narrower because the GNP gap will almost towards to potentiality GNP. The contras of decreasing unemployment rate are rising prices will occur and the brand-new business will have hard time to survive. The effect of decreasing rate of unemployment towards smart set The first effect is employment may bring a increase in social outings and interactions with other people, including friends. Secondly, employment the contention for jobs and the negotiation power of the individual increases and frankincense also the living standard of people with the salaries packages and income higher.Thirdly, employment also brings up steady and steadiness amongst the evaluate paying citizens. For the fresh graduate employees, they will not construction burden to settle their loans. Recommendation or solution The first solution is, government can use progressive tax rate depends on the number of employees and use the current Malaysia Corporate Tax. If we use this method, the go with in Malaysia will hire more employees in order to decrease the corporate tax and lead to the zero unemployment rates.The second solution is government can dissonant up Malaysian mind to new kind of industry that can make the Earth as better pasture in the future. For example, this legislation would create an estimated 3 million new jobs by beginning closed areas of the Outer Continental ledge which is between Malaysia and Brunei for oil and gas exploration, and streamlining the licensing of atomic power plants. This also would create royal line revenues for the government that the bill directs to a new trust fund that can bear on renewable energy.