How is the loss of employment rate expected to change in Q4 2021?

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The Loss of Employment Rate is Projected to Decline in the Fourth Quarter of 2021

The country's labour market is anticipated to see a reduction in job losses, with the loss of employment (LOE) rate expected to decrease from 15,753 individuals in the third quarter to 12,105 individuals in the fourth quarter of 2021. This projection aligns with a broader trend of labour market strengthening observed during the latter part of the year.
Projected Decrease in Job Losses

The EIS-UPMCS (EU-ERA) Centre for Future Labour Market Studies forecasts a significant drop in the number of people experiencing job loss. After remaining stable at 15,753 individuals in the third quarter of 2021, the LOE is estimated to fall to 12,105 by the end of the year. This decline suggests a positive shift in employment stability.
Broader Labour Market Rebound

This expected decrease in job losses is part of a larger positive outlook for Malaysia's labour market. The overall unemployment rate is also projected to decline from an average of 4.67 per cent in the third quarter to 4.31 per cent in the fourth quarter of 2021. This indicates a strengthening demand for labour and a potential reduction in the imbalance between job seekers and available opportunities.
Government and Organisational Support

The Social Security Organisation (Socso) chief executive, Datuk Seri Mohammed Azman Aziz Mohammed, highlighted that continuous support and intervention are necessary to further reduce unemployment and job losses. Initiatives and incentives for job creation and retention, as announced in Budget 2022, are considered timely and crucial for the ongoing recovery of the labour market until the end of the year.

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How is the loss of employment rate expected to change in Q4 2021?

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