Major Institutions Provide Upskilling Opportunities to Fight Rising Unemployment

By Ooi Tze Xiong

July 2021 FEATURE
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PENANG, WITH ITS population of about 1.8 million, faces a perennial challenge of retaining human capital. Where this was once resolved by hiring from out of state, employers now grapple with caps on workforce – a causal effect of Covid-19 and dwindling profit margins.Until October 2020, SOCSO reported 9,489 retrenchments in the state; this is nearly 10.6% of job losses nationwide since the onset of the pandemic.1 By the tail end of 2020, Penang's unemployment rate rose to 3.5% –...

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Ooi Tze Xiong

currently delves into content creation and enjoys piloting drones as a hobby. After years of sojourning in cities across Malaysia and Singapore, he eventually decided to call Penang home.