Nearly 90,000 jobs lost this year, says Socso

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Socso has received reports on 89,596 cases of loss of employment as of Oct 22.KUALA LUMPUR: Nearly 90,000 jobs losses have been reported so far this year, according to the Social Security Organisation (Socso).Socso CEO Mohammed Azman Aziz told FMT the organisation had received reports on 89,596 cases of loss of employment as of Oct 22, with an average of nearly 10,000 cases every month.“This represents an increase of 278% compared with 2019,” he said. “If this trend continues, loss of employment cases are estimated to be more than 100,000 by the end of 2020.“We observed that the figure started to increase in May, when the government implemented the conditional movement control order (CMCO), and spiked in July when the recovery MCO commenced. The trend started to stabilise in mid-July.”Azman said the manufacturing sector had been the worst-hit, with 20,492 job losses, making up…