Malaysia: Over half a million jobs lost after seven weeks of movement restrictions
The number of unemployed people reached 520,000 in Malaysia after seven weeks of the enforcement of the Movement Control Order (MCO) to cope with the ravaging COVID-19 pandemic, forcing the government to restart the economy.
Malaysian Minister of Economic Affairs Mustapa Mohamed (Photo: www.thestar.com.my)Kuala Lumpur (VNA) – The number of unemployed people
reached 520,000 in Malaysia after seven weeks of the enforcement of the
Movement Control Order (MCO) to cope with the ravaging COVID-19 pandemic,
forcing the government to restart the economy.
The information was revealed by Malaysian Minister of Economic Affairs Mustapa Mohamed during a TV interview on May 7.
He added that the government has already received advice from the Health Ministry, and decided that it is time to look at the economy.
According to the country’s central bank, if no action is taken, the number of the unemployed could reach 1.8 million.
The Malaysian government had allowed almost all economic sectors and business activities to resume business operations starting from May 4. However, the decision to reopen the economy did not mean every business would operate at full capacity immediately.
The MCO was enforced on March 18, resulting in the suspension of most trading activities. The country is projected to lose 2.4 billion ringgit (557.81 million USD) per day if the restrictions go on.
Malaysia reported 39 new COVID-19 cases on May 7, raising the national tally to 6,467. Of the number, there were 4,776 recoveries and 107 fatalities./.
The information was revealed by Malaysian Minister of Economic Affairs Mustapa Mohamed during a TV interview on May 7.
He added that the government has already received advice from the Health Ministry, and decided that it is time to look at the economy.
According to the country’s central bank, if no action is taken, the number of the unemployed could reach 1.8 million.
The Malaysian government had allowed almost all economic sectors and business activities to resume business operations starting from May 4. However, the decision to reopen the economy did not mean every business would operate at full capacity immediately.
The MCO was enforced on March 18, resulting in the suspension of most trading activities. The country is projected to lose 2.4 billion ringgit (557.81 million USD) per day if the restrictions go on.
Malaysia reported 39 new COVID-19 cases on May 7, raising the national tally to 6,467. Of the number, there were 4,776 recoveries and 107 fatalities./.
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