Why does Malaysia lack sufficient high-skilled jobs, according to BNM?

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Malaysia Faces a Shortage of High-Skilled Jobs Due to Underemployment

Bank Negara Malaysia (BNM) indicates that Malaysia currently lacks a sufficient number of high-skilled jobs. This situation is primarily attributed to a significant rate of underemployment among the workforce, where a substantial percentage of individuals are employed in roles that do not fully utilise their existing qualifications.
High Rate of Underemployment

A key factor contributing to the shortage of high-skilled jobs is the elevated rate of underemployment, which stands at approximately 35–36 per cent. This statistic signifies that a considerable portion of the Malaysian labour force is engaged in positions that require a lower level of qualification than what these workers possess. Consequently, these high-skilled individuals are not being optimally utilised in their respective fields.
Underutilisation of Qualified Labour

The underemployment rate highlights a systemic issue where workers with advanced skills and qualifications are not being placed in roles that match their expertise. This underutilisation means that while Malaysia may have a growing pool of educated and skilled individuals, the available job market does not adequately absorb them into high-skilled positions, leading to a perceived lack of such opportunities.
Need for More High-Skilled Job Creation

To address this imbalance, BNM suggests that Malaysia must focus on creating more high-skilled employment opportunities. This can be achieved through strategic investments that foster industries requiring advanced expertise. Simultaneously, continuous efforts to enhance the quality of the labour force through initiatives like Technical and Vocational Education and Training (TVET), STEM education, and reskilling/upskilling programmes are deemed essential.

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Why does Malaysia lack sufficient high-skilled jobs, according to BNM?

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