Three economic 'shields' needed to help 1m unemployed Malaysians

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MP SPEAKS | One million unemployed Malaysians by September requires three economic "shields" costing RM31.4 billion to save jobs and livelihood, comprising RM1,000 monthly aid, an extension of the bank loan moratorium by another six months as well as work hiring incentives for employers and employees. With the unemployment rate at 4.9 percent or 773,200 in June 2020, Human Resources Minister M Saravanan said that as of September, the number of job seekers in the country could rise to one million. Saravanan attributed the increase of unemployed Malaysians to one million due to an additional 350,000 fresh graduates and 200,000 Malaysians returning from abroad. One million unemployed Malaysians would be the highest in history and require immediate action by the government through increased borrowing of tens of billions of ringgit. DAP proposes three economic shields costing…