Massive unemployment needs to be addressed immediately

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When everything seems to be falling down, be it the global oil prices, gross domestic product (GDP), or the global economy as a whole, there are a few macroeconomic indicators in which values are rising, one of which is unemployment. Earlier this month, the Department of Statistics Malaysia (DOSM) had released the results of a survey on the "Effects of Covid-19 on Economic and Individuals (Round One)" with a total of 168,182 respondents nationwide participating in it. According to the study, almost 47 percent self-employed workers had lost their jobs – about 19,677 respondents. As for those who still have jobs, 35.5 percent reported a decrease in income by over 90 percent. If the percentage is taken on an actual scale, this means that out of the 2.86 million self-employed workers, 1.34 million workers have lost their jobs. And almost 540,000 experienced a 90 percent dec…