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Malaysia: Over half a million jobs lost after seven weeks of movement restrictions

The number of unemployed people reached 520,000 in Malaysia after seven weeks of the enforcement of the Movement Control Order (MCO) to cope with the ravaging COVID-19 pandemic, forcing the government to restart the economy.
Malaysia: Over half a million jobs lost after seven weeks of movement restrictions ảnh 1Malaysian Minister of Economic Affairs Mustapa Mohamed (Photo: www.thestar.com.my)
Kuala Lumpur (VNA) – The number of unemployed peoplereached 520,000 in Malaysia after seven weeks of the enforcement of theMovement Control Order (MCO) to cope with the ravaging COVID-19 pandemic,forcing the government to restart the economy.

The information was revealed by Malaysian Minister ofEconomic Affairs Mustapa Mohamed during a TV interview on May 7.  

He added that the government has already received advice fromthe Health Ministry, and decided that it is time to look at the economy.

According to the country’s central bank, if no action istaken, the number of the unemployed could reach 1.8 million.

The Malaysian government had allowed almost all economicsectors and business activities to resume business operations starting from May4. However, the decision to reopen the economy did not mean every businesswould operate at full capacity immediately.

The MCO was enforced on March 18, resulting in the suspensionof most trading activities. The country is projected to lose 2.4 billionringgit (557.81 million USD) per day if the restrictions go on. 

Malaysia reported 39 new COVID-19 cases on May 7, raising thenational tally to 6,467. Of the number, there were 4,776 recoveries and 107fatalities./.
VNA
#COVID-19#Malaysia#unemployed people#Movement Control Order (MCO)#business operations#vietnamplus#Vietnam News Agency
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