Factors Affecting Unemployment of Fresh Graduates

In: Business and Management

Submitted By kobinaath
Words 6119
Pages 25
Salary and Wages in Malaysia by Rohayu Abd. Ghani Rasidah Arshad Fazli Idris Rozhan Othman Noreha Halid June M.L. Poon Ayu Trisna University Kebangsaaan Malaysia, Bangi, Selangor

This paper discusses the compensation practices in Malaysia against the backdrop of the legal framework for wage and salary deterinatio n. It also exa mines the Malay sian labo ur mark et situation a nd trends in salary and wage administration together with the role of unions in compensation determination.

INTRODUCTION
Malaysia is a country of more than 20 million located at the southernmost tip of mainland Asia. Besides being a leading exporter of commodities such as natural rubber, tin, palm oil, timber, petroleum, and natural gas, Malaysia is also one of the world’s leading exporters of electronic semicond uctors, roo m air-cond itioners, and a udiovisual e quipmen t. Prior to July 199 7, Asia was seen as a region exemplifying success in economic growth and development. Between 1991 to 1996, the Malaysian econom y grew at an ave rage rate of m ore than 8% . Howev er, Mala ysia could no t shield itself from being negatively impacted by the 1997 Asian Financial Crisis where the nation suffered a 7.5% c ontraction in its Gross D omestic P roduct (G DP) in 1 998. In 2000, M alaysia had a workforce (defined as persons between 15-64 years old) of slightly above 9 million. About 60% of the workforce were below 35 years of age. Union members accounted for about 8.15% of the labour force. Unemployment was reported at 3% of the labor force, and foreign workers accounted for one out of every seven jobs (Malaysia 1996-1998, 1996 ). This scenario shapes the Malaysian labour market condition. Until 1997, the salary and wage rate in the country had experienc ed a significant g rowth. Th is was a result of the rapid econom ic growth and near p erfect emp loyment. T his paper will discuss the…...

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