Challenges of Malaysian Labour Market
1.0 Introduction
Labour market is a key issue for many developing as well as developed countries. Whether the people are skilled or unskilled is determining factor for the inflow of foreign direct investment (FDIs) to many developing nations. So, Malaysia depended on its abundant supply of literate and trainable labour force to attract investments in the export-oriented electronics industry since the early 70s’. This labour force has gone through skilled upgrading and enhancement in the past three decades and today, Malaysia can boast of having a pool of relatively skilled and professional labour force that is capable of handling and developing state-of-the-art technologies.
Despite these accomplishments, human labour which was and remains the key factor in driving Malaysia’s economic growth. In charting the growth path for the first decade of the 21st century, Malaysia decided to engage in global information economy. As the Ex-Prime Minister Tun Datuk Dr. Mahathir Mohamad emphasised (Malaysia 2001a), “…, the force of globalization, liberalization and information and communications technology have fundamentally changed the rules and nature of global trade, resource flows and competition.
Obviously, the world is changing, the new event happen will affect labour market, and Government continue to face many challenges. In this paper researchers will examines the challenges of the global economy lie ahead of Malaysian labour market. And researchers know that the countries that are able to face to the challenges will grow in success, while those failing to do so will decrease the speed of development.
2.0 Discussion Section
2.1 Structure of Labour Force in Malaysia
Since 1970, Malaysia has seen many changes. There have been reductions in poverty levels, improved health conditions and significant gains in per capita income. The Gross National Product per capita in 1998 prices increased 223% from RM2,414 in 1970 to RM7,794 in 1998 (Malaysia,
Labour market is a key issue for many developing as well as developed countries. Whether the people are skilled or unskilled is determining factor for the inflow of foreign direct investment (FDIs) to many developing nations. So, Malaysia depended on its abundant supply of literate and trainable labour force to attract investments in the export-oriented electronics industry since the early 70s’. This labour force has gone through skilled upgrading and enhancement in the past three decades and today, Malaysia can boast of having a pool of relatively skilled and professional labour force that is capable of handling and developing state-of-the-art technologies.
Despite these accomplishments, human labour which was and remains the key factor in driving Malaysia’s economic growth. In charting the growth path for the first decade of the 21st century, Malaysia decided to engage in global information economy. As the Ex-Prime Minister Tun Datuk Dr. Mahathir Mohamad emphasised (Malaysia 2001a), “…, the force of globalization, liberalization and information and communications technology have fundamentally changed the rules and nature of global trade, resource flows and competition.
Obviously, the world is changing, the new event happen will affect labour market, and Government continue to face many challenges. In this paper researchers will examines the challenges of the global economy lie ahead of Malaysian labour market. And researchers know that the countries that are able to face to the challenges will grow in success, while those failing to do so will decrease the speed of development.
2.0 Discussion Section
2.1 Structure of Labour Force in Malaysia
Since 1970, Malaysia has seen many changes. There have been reductions in poverty levels, improved health conditions and significant gains in per capita income. The Gross National Product per capita in 1998 prices increased 223% from RM2,414 in 1970 to RM7,794 in 1998 (Malaysia,
References: Azizah Kassim (1998), “Immigrant workers and the informal sector in West Malaysia: A case study of the Indonesia worker in Kula Lumpur.” In current issues in Labour Migration in Malaysia, University Of Malaya, Kuala Lumpur: pp 232-254. Athukorala PM and Menon J (1996), “Globalization, Employment and Equity: The Malaysian Experience”, ILO, Bangkok, June. Economic Report (2004/2005), Kuala Lumpur: Percetakan National Malaysia. Hamid H (2006), “Foreign Labour Dilemma”, New Straits Times, 25 Sept. Ninth Malaysia Plan 2006-2010 (2006), Kuala Lumpur Inagami T (1998), “Labour market policies in Asian countries: Diversity and similarity among Singapore, Malaysia,the Republic of Korea and Japan” , ILO: EMPLOYMENT AND TRAINING PAPERS.