Low unemployment rate reflects economic recovery, says HR minister
KUALA LUMPUR: The low unemployment rate of 3.5% in the first quarter of this year reflects a recovery in the economy that was marred by uncertainties in the previous years, says V Sivakumar.
The Human Resource Minister said that reports by the Statistics Department (DOSM) showed that the unemployment rate had declined from 4.1% during the same period last year.
“Over the past few years, Malaysia has experienced its share of uncertainties. But, we have also become more resilient as a nation. This laid the foundation for our accelerated yet sustainable future growth.
“The sustained period of economic recovery is reflected in our low unemployment rate,” said Sivakumar during the opening ceremony of the National Human Capital Conference and Exhibition (NHCCE) 2023 on Monday (Oct 30) morning.
However, Sivakumar said the buck doesn’t stop here, as government ministries and its agencies must forge closer cooperative ties.
“Together, we can effectively identify critical issues the rakyat faces and deploy comprehensive initiatives more swiftly,” said Sivakumar.
At the same time, Sivakumar said the NHCCE 2023 is a prime example of how public and private sectors are cooperating to uplift the quality of the local human resources development scene.
“Beyond the event itself, I was made to understand that over 20 MoUs between various industry players will be exchanged over the next two days,” said Sivakumar.
Sivakumar also commended the Human Resources Development Corp (HRD Corp) for going above and beyond to facilitate collaboration between various businesses and organisations.
“As similar partnerships continue to bloom, I hope it will further benefit more employers, employees and ultimately, the nation,” said Sivakumar.
Sivakumar also said he was hoping for government agencies under his ministry will continue being its “voice and bridge” on the ground.
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“These constant engagements will guide our agencies towards introducing more initiatives that give back to their stakeholders, such as NHCCE 2023,” added Sivakumar.
Meanwhile, Sivakumar said the Human Resources Ministry is working with industry players to nurture a buoyant local human capital development ecosystem, as it is a crucial step to propel Malaysia into a fully developed country.
“To achieve this ambitious goal, the nation cannot afford to lose our skilled talent pool due to a lack of good career prospects or a laggard human capital development ecosystem,” added Sivakumar.
Sivakumar said the NHCCE 2023 will feature prominent speakers leading discussions to determine the discourse of human capital development.
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“I hope our delegates seize this opportunity to broaden their horizons and be more well-rounded business owners, industry leaders, HR professionals and among others,” he said.
“By the end of this conference, I am confident that you will become the agent of change and growth within your respective organisation, industry and even nation,” added Sivakumar.
The NHCCE 2023 is taking place at the Malaysia International Trade and Exhibition Centre (MiTEC) beginning Oct 30 to Oct 31.
Themed “Pioneering Growth, Inspiring Change”, the NHCCE aims to help organisations and human resources practitioners stay ahead of the shifting demands in the modern workplace.
Discussions will be based on key topics covering five pillars – Technology and Innovation; Leadership and Growth; Motivation and well-being; Learning and Development; the Dynamic Workforce and Future Workplace.
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