Latest news with #MADANIEconomicFramework
The Sun
23-05-2025
- Business
- The Sun
Several policies in place to address imbalance between high-value jobs and graduates
KLANG: To overcome the imbalance between the number of high-value jobs offered in the labour market and the number of graduates from higher learning institutions as well as Technical and Vocational Education and Training (TVET), the government has launched several policies to address the matter, according to Human Resources Minister Steven Sim. The minister said among the policies in question were the MADANI Economic Framework and progressive salary policy which were among the efforts made by the government across ministries to ensure that every graduate and worker received a dignified remuneration. 'We have about 300,000 university graduates yearly, plus 100,000 TVET graduates, making a total of 400,000 Malaysians with higher education qualifications, but every year we are only able to generate 50,000 high-value and highly skilled jobs,' he said. He said this when met after the 2025 Trade Union Affairs Programme (PHEKS) Central Zone assistance handover ceremony here today. Sim also encouraged workers to join trade unions so that suitable salaries or remuneration could be negotiated well with employers. Yesterday, the media reported that more than 65 per cent of degree holders in the country earn a monthly salary of below RM3,000, thus earning an 'enough to eat' income with no room to save, invest or increase their social mobility. In addition, more than 70 per cent of graduates in the country were found to be forced to work in the semi-skilled and unskilled sectors. The findings were obtained through a study The 'Gaji Cukup Makan' Economy: When Higher Education Becomes an Economic Risk, conducted under the Malaysia Labour Market Insight Series.
The Sun
23-05-2025
- Business
- The Sun
Govt acts to bridge gap between graduates and job market
KLANG: To overcome the imbalance between the number of high-value jobs offered in the labour market and the number of graduates from higher learning institutions as well as Technical and Vocational Education and Training (TVET), the government has launched several policies to address the matter, according to Human Resources Minister Steven Sim. The minister said among the policies in question were the MADANI Economic Framework and progressive salary policy which were among the efforts made by the government across ministries to ensure that every graduate and worker received a dignified remuneration. 'We have about 300,000 university graduates yearly, plus 100,000 TVET graduates, making a total of 400,000 Malaysians with higher education qualifications, but every year we are only able to generate 50,000 high-value and highly skilled jobs,' he said. He said this when met after the 2025 Trade Union Affairs Programme (PHEKS) Central Zone assistance handover ceremony here today. Sim also encouraged workers to join trade unions so that suitable salaries or remuneration could be negotiated well with employers. Yesterday, the media reported that more than 65 per cent of degree holders in the country earn a monthly salary of below RM3,000, thus earning an 'enough to eat' income with no room to save, invest or increase their social mobility. In addition, more than 70 per cent of graduates in the country were found to be forced to work in the semi-skilled and unskilled sectors. The findings were obtained through a study The 'Gaji Cukup Makan' Economy: When Higher Education Becomes an Economic Risk, conducted under the Malaysia Labour Market Insight Series.
Barnama
23-05-2025
- Business
- Barnama
Several Policies In Place To Address Imbalance Between High-value Jobs And Graduates
KLANG, May 23 (Bernama) -- To overcome the imbalance between the number of high-value jobs offered in the labour market and the number of graduates from higher learning institutions as well as Technical and Vocational Education and Training (TVET), the government has launched several policies to address the matter, according to Human Resources Minister Steven Sim. The minister said among the policies in question were the MADANI Economic Framework and progressive salary policy which were among the efforts made by the government across ministries to ensure that every graduate and worker received a dignified remuneration. "We have about 300,000 university graduates yearly, plus 100,000 TVET graduates, making a total of 400,000 Malaysians with higher education qualifications, but every year we are only able to generate 50,000 high-value and highly skilled jobs," he said.
Daily Express
05-05-2025
- Business
- Daily Express
Malaysia confident in weathering US tariffs with solid economic fundamentals
Published on: Monday, May 05, 2025 Published on: Mon, May 05, 2025 By: Bernama Text Size: Anwar stressed that structural reforms introduced under the MADANI Economic Framework will strengthen the country's ability to withstand global economic challenges and stay prepared for future uncertainties Kuala Lumpur: Prime Minister Datuk Seri Anwar Ibrahim is confident that Malaysia's strong economic fundamentals will enable the country to navigate the global uncertainties following the recent announcement of retaliatory tariffs by the United States (US). He stressed that structural reforms introduced under the MADANI Economic Framework will strengthen the country's ability to withstand global economic challenges and stay prepared for future uncertainties 'With a resilient domestic economy and strong confidence, we are not easily swayed by external pressures or overwhelmed by global challenges. 'We have the figures and data that can be managed and used wisely,' he said during a Special Parliamentary Meeting in the Dewan Rakyat today on the US tariffs Anwar, who is also the Finance Minister, described Malaysia's macroeconomic performance last year as highly encouraging, with the country recording a gross domestic product growth of 5.1 per cent in 2024 compared to 3.6 per cent in 2023, surpassing the Budget 2024 forecast of between 4.0-5.0 per cent. 'In addition, we have consistently reduced the fiscal deficit — from 5.5 per cent in 2022 to 5.0 per cent in 2023 and subsequently 4.1 per cent in 2024, down to a projected 3.8 per cent for 2025,' he said. * Follow us on Instagram and join our Telegram and/or WhatsApp channel(s) for the latest news you don't want to miss. * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
BusinessToday
05-05-2025
- Business
- BusinessToday
PM Anwar: Malaysia's Economic Strength Will Overcome Global Uncertainties
Malaysia's robust economic fundamentals will allow the country to effectively navigate the global uncertainties following the recent announcement of retaliatory tariffs by the United States, said Prime Minister Datuk Seri Anwar Ibrahim. At a special briefing session in the Dewan Rakyat on the US tariffs, Anwar, who is also the Finance Minister, reaffirmed that the structural reforms under the MADANI Economic Framework would enable Malaysia to withstand external pressures and better prepare for global economic uncertainties. 'We are facing this chaos with a strong economic foundation, and we believe Malaysia can manage the situation effectively,' Anwar stated, emphasising that the country's economic resilience would prevent it from falling victim to external pressures. He highlighted that Malaysia's economic data and figures were manageable and could be optimally leveraged to weather challenges. Anwar further underscored the positive macroeconomic performance last year, which was reassuring. Malaysia's Gross Domestic Product (GDP) growth for 2024 was recorded at 5.1%, a notable increase from the 3.6% growth in 2023. This performance exceeded the 2024 Budget projection of between 4% and 5%. Additionally, he pointed out the government's successful efforts in reducing the fiscal deficit, from 5.5% in 2022 to 5% in 2023, with projections to further reduce it to 4.1% in 2024 and 3.8% in 2025. Related
