logo
MyLabourHub aims to support smarter, data-driven decisions, says DOSM

MyLabourHub aims to support smarter, data-driven decisions, says DOSM

The Star27-05-2025
PUTRAJAYA: Whether tackling job mismatches or choosing where to settle after marriage for better economic prospects, the Statistics Department's (DOSM) Malaysia Labour Market Data Hub (MyLabourHub) platform aims to support smarter, data-driven decisions.
Officiating the launch of the platform at DOSM headquarters here on Tuesday (May 27), chief statistician Datuk Seri Dr Mohd Uzir Mahidin said this marks a significant leap in the country's efforts to strengthen data-driven policymaking and empower the workforce.
'MyLabourHub is more than just a portal, it is an intelligent platform that integrates data, institutions and technology to provide labour market information that is current, accurate and accessible to all stakeholders.
'It also offers a wide range of key functions, including a labour market analysis platform that provides a comprehensive picture of employment trends, wage levels and skills requirements that align with the current employment environment,' he said, adding that the platform was built internally by DOSM.
Mohd Uzir said the platform adopts a whole-of-nation approach to support inclusive and sustainable growth and talent development, designed to serve a wide range of stakeholders including policymakers, industry players, training institutions and the public.
'It allows users to explore employment trends by skill level, sector and geographic location with data updated monthly, quarterly and annually.
'This initiative goes beyond just statistics. It's about empowering the people, businesses and policymakers with accessible and understandable data.
'Even parents can use this to guide their children in choosing future careers,' he said.
Mohd Uzir said the platform supports comprehensive time-series analysis, enabling policymakers to track progress on employment strategies, wage growth and labour demand in alignment with Malaysia's socio-economic goals.
'We provide data down to the district level with over 100 districts to support targeted policy implementation,' he said, adding that the platform is complementary to OpenDOSM, which has earned global recognition.
Mohd Uzir said the platform, among others, will help improve labour market efficiency and information flow among employers, job seekers and training providers, reduce job search costs through better access to data and support the transformation of the education system in line with industry needs.
He said the platform has more than 100 key indicators across eight labour market themes such as labour supply and demand, graduate statistics, micro, small and medium enterprises, Sustainable Development Goals and others.
Among its key features are the integration of over 60 major labour market indicators and with administrative data from 40 ministries and agencies, including Employees Provident Fund, Social Security Organisation, Accountant General's Department, Public Service Department and Higher Education Ministry.
'It also features Kayra-GPT, a generative AI-powered digital assistant that enables quick and user-friendly labour market information search,' he said.
In addition to MyLabourHub, DOSM will roll out an agriculture-specific dashboard TaniStats on Thursday (May 29), he added.
keywords:
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Strong Domestic Demand Pushed Service Sector To Record 5.7% Growth In 2Q
Strong Domestic Demand Pushed Service Sector To Record 5.7% Growth In 2Q

BusinessToday

time9 hours ago

  • BusinessToday

Strong Domestic Demand Pushed Service Sector To Record 5.7% Growth In 2Q

The Services sector increased by 5.7 per cent year-onyear in the second quarter of 2025, reaching RM641.4 billion in revenue. This is reported by Department of Statistics Malaysia (DOSM) in release of The Quarterly Services Statistics, Second Quarter 2025. The report presents statistics on Services sector, which encompasses the sub-sectors of Wholesale & Retail Trade; Information & Communication; Transportation & Storage; Accommodation; Food & Beverage; Professional; Private Health; Private Education; Arts, Entertainment & Recreation; Real Estate; Administrative & Support Service; Personal Services & Other Activities, and Income of e-Commerce. Chief Statistician Malaysia, Dato' Sri Dr. Mohd Uzir Mahidin, reported that 'The strong 5.7 per cent increase in the second quarter was supported by the positive performance of all segments within the sector. This growth reflects the stability of domestic demand and the sector's vital role in supporting overall economic expansion.' The Wholesale & Retail Trade, Food & Beverages, and Accommodation segment recorded a year-on-year revenue growth of RM22.5 billion or 4.9 per cent, reaching RM484.0 billion in the second quarter of 2025. This improvement was mainly supported by the increase in domestic travel across the country, which encouraged higher consumer spending. In addition, public holidays and festive breaks such as Hari Raya Aidilfitri, Wesak Day, Pesta Kaamatan, Hari Gawai, Labour Day, Hari Raya Aidiladha, and the school holidays encouraged more household spending. At the same time, the increase in international visitor arrivals further supported the growth of this segment.

Malaysia faces retirement time bomb as longer lifespans, shrinking tax base threaten pension system
Malaysia faces retirement time bomb as longer lifespans, shrinking tax base threaten pension system

Sinar Daily

time11 hours ago

  • Sinar Daily

Malaysia faces retirement time bomb as longer lifespans, shrinking tax base threaten pension system

SHAH ALAM - Malaysia's retirement system is facing growing pressure as increasing life expectancy, declining savings and a shrinking taxpayer base raise doubts about the long-term viability of the nation's pension structure. Worries over Malaysians' preparedness for retirement have deepened, coming only three years after the government permitted large-scale withdrawals from the Employees Provident Fund (EPF) to help offset job losses during the Covid-19 pandemic. EPF Chief Executive Officer (CEO) Ahmad Zulqarnain Onn stressed the urgency for immediate action, saying it was crucial 'to ensure Malaysians are both financially and socially prepared for longer lifespans.' Projections now indicate that life expectancy could reach 81 years by 2050 — just 25 years away. With a rapidly aging population and a falling birth rate leading to a contracting tax base, fears are growing that future retirees may simply not have enough to live on. Malaysia's retirement savings landscape Malaysia's primary retirement mechanism is the EPF, a defined contribution (DC) scheme in which savings are built through employee and employer contributions, along with investment returns. Civil servants still enjoy a legacy defined benefit (DB) pension that guarantees monthly payouts based on final salary and tenure. While the DB model provides secure retirement income, it imposes significant long-term costs on public finances. Globally, DC schemes are seen as more sustainable because they shift investment and longevity risk away from governments, give individuals greater control over their funds and are easier to manage fiscally. The Covid-19 withdrawals hit hard Economic uncertainty in recent years has tested the resilience of Malaysia's DC model. During the pandemic, more than 8.1 million EPF contributors withdrew over RM145 billion from their accounts, often to cover immediate expenses such as rent, food and debt repayments. The result has been devastating to retirement readiness. Half of members aged 55 and below now have less than RM10,000 each, with the median balance at only RM10,898. Many accounts have been emptied entirely. The lifespan of the average Malaysian has risen, forcing the younger generation to bear the burden of sustaining them through old age for a longer period. Photo: Edited via Canva Living longer, but with less Life expectancy in Malaysia has risen sharply over the past three decades. Men now average 74.8 years and women 78.9 years, compared with 68.7 and 73.4 years respectively in 1990. This longevity comes at a cost. Someone retiring at 60 and needing RM1,500 a month for basic living expenses would require at least RM360,000 to last two decades. Yet, as of 2023, nearly 74 per cent of active EPF members had savings of under RM100,000. Enough for just five to six years, excluding healthcare and elderly care costs. A shrinking tax base compounds the problem Falling birth rates and low tax revenue are further eroding the sustainability of Malaysia's pension system. The country's tax-to-GDP ratio was just 12.6 per cent in 2023, far below the Asia-Pacific average of 19.3 per cent and the OECD average of 34 per cent. According to the Department of Statistics, the live birth rate dropped by 10.2 per cent to 100,732 in the second quarter of 2024 compared with the same period a year earlier. If this continues, there will be fewer taxpayers and EPF contributors in the future, even as more Malaysians retire. Countries that maintain generous DB pensions do so through high taxation and large reserves — conditions Malaysia does not currently have. Without reform, experts warned, the current system risks becoming unsustainable. Potential solutions on the table Experts suggested several measures to safeguard against retirees outliving their savings. These include promoting financial literacy, enhancing saving incentives, creating a modest social safety net and expanding aged-care facilities. One proposal is to introduce a hybrid pension system. Under this model, employees would keep contributing to EPF, but upon retirement, only part of their balance could be taken as a lump sum. The rest would be paid out monthly for life, similar to Singapore's CPF Life. This would reintroduce a guaranteed minimum lifetime income — a feature of the old DB pension — without overburdening public finances. In addition, tax incentives, matching contributions and voluntary top-up schemes could help rebuild depleted savings. The urgency for reform is growing. As Ahmad Zulqarnain emphasised, Malaysia must act now 'to ensure Malaysians are both financially and socially prepared for longer lifespans.' Without decisive action, today's workers could become tomorrow's financially vulnerable elderly — living longer, but going broke sooner.

‘RON95 subsidy rationalisation will not affect 85% of Malaysians'
‘RON95 subsidy rationalisation will not affect 85% of Malaysians'

The Sun

time14 hours ago

  • The Sun

‘RON95 subsidy rationalisation will not affect 85% of Malaysians'

PETALING JAYA: At least 85% of Malaysians will not be affected by the RON95 targeted subsidy rationalisation which will be announced by the end of September, said Prime Minister Datuk Seri Anwar Ibrahim. He said only non-Malaysians and those who are financially well off would not be able to avail of the subsidy. In a written parliamentary reply, Anwar, who is also Finance minister, said the implementation of targeted diesel subsidies in mid-2024 indicates that inflation remains under control. He said Malaysia's inflation rate rose moderately to 1.8% in 2024 compared with 2.5% in 2023. 'During the same period, the consumer price index increased to 132.8 from 130.4 in the previous year. Based on current projections, the overall national inflation rate for 2025 is expected to remain moderate, provided the targeted RON95 subsidy is implemented in the second half of this year.' He was replying to Dr Radzi Jidin (PN-Putrajaya), who asked about the status of the RON95 targeted subsidy and its effects on the public. Anwar said to reduce the cost of living burden, the government has increased the allocation for direct cash assistance programmes, including the Rahmah Cash Contribution and the Rahmah Basic Contribution, from RM10 billion to RM13 billion this year to ensure the social safety net remains strong. 'Additionally, the government will provide a one-off cash assistance of RM100 to every citizen aged 18 and above in conjunction with National Day on Aug 31 to support the purchase of essential goods. 'This initiative is expected to benefit around 22 million people and involves an allocation of RM2 billion, bringing the total allocation under the direct cash assistance programmes from RM13 billion to RM15 billion this year.' Anwar said the eligibility for the RON95 petrol subsidy is determined based on the Central Database Hub data, which draws from various data sources including the Inland Revenue Board and the Household Income Survey by the Statistics Department. He said the government is also refining the implementation aspects comprehensively, including through data review and information from relevant agencies. 'This is to ensure that the approach taken is holistic and targeted, ultimately ensuring that the assistance provided truly reaches those who are eligible and in need.'

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store