The Malaysian House of Representatives has passed the Employment Insurance System Bill, in a bid to provide temporary financial support for laid off workers (Source: www.nst.com.my)
 
Kuala Lumpur (VNA) – The Malaysian House of Representatives has passed the Employment Insurance System Bill, in a bid to provide temporary financial support for laid off workers.

Bernama news agency quoted Human Resources Minister Richard Riot as saying that the bill will support workers aged 40 to 50s who are retrenched to receive suitable training courses so that they can be matched with other jobs.

The bill stated monthly contributions to the insurance system from employers and workers will be 0.4 percent, with equally 0.2 percent from each side.

The minister added that more than 44,000 people lost their jobs in 2015, mainly due to the rise of automation in finance, business restructuring and falling oil price. The figure was over 38,000 in 2016, mostly workers in retail, manufacturing and underground mining.

The bill will be submitted for the approval of the Malaysian Senate and King in the coming time.-VNA