Unemployment Insurance

Topics: Unemployment, Economics, Crime Pages: 3 (829 words) Published: March 23, 2011
Unemployment is not a new issue in Malaysia. Unemployment is an economic condition marked by the fact that individuals actively seeking jobs remain unhired. Unemployment is expressed as a percentage of total available work forces. Another definition of unemployment is Persons are classified as unemployed if they do not have a job, have actively looked for work in the prior 4 weeks, and are currently available for work. Persons who were not working and were waiting to be recalled to a job from which they had been temporarily laid off are also included as unemployed. Receiving benefits from the Unemployment Insurance (UI) program has no bearing on whether a person The level of unemployment varies with economic condition and other circumstances. Increasing amount of unemployment in Malaysia is start from 1997-1998 financial crises. Start from this point, unemployment in Malaysia is a critical issue. This is because many companies’ closes in this time and economy can’t give a good feed back. Because of it, many workers not have a job. Unemployment increase so fast. There are several causes, issues and solution for this unemployment in Malaysia.

Unemployment is a serious issue not just in Malaysia but in entire world. Unemployment issues also had in another country like America, china, Australia and many more country have a same problem. In the third quarter of 2005 the United States had an unemployment rate of 5%. In comparison, of the five other countries for which third-quarter 2005 data were available, only Japan had a lower rate (4.4%). Australia's rate was also 5%. Other unemployment rates were: Canada (6%), Germany (9.4%), and France (9.7%).Unemployment issue in Malaysia has been critical issue after 1997-1998 financial crises. . In 1999, Malaysia had a population of 22 million, of which nine million were active labour. The unemployment rate ranged from 2.4% to 3.2% for the past five years. The government estimates the figure to be...
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