00:00What would be the main issue of the workforce for this year, do you expect?
00:30The unemployment rate is still low, the average salary is only about 2.7 thousand a month.
00:37So we have an issue, a paradox.
00:39The unemployment rate is low, the unemployment rate is low,
00:42it means that the workers can make an offer, they have the power to divide,
00:46because there are not enough workers.
00:47But at the same time, we see that the salary is not increasing.
00:50The second paradox is about the issue of skill.
00:55On the one hand, we get feedback from employers, from investors,
01:01saying that we need more apprentices, we need more technicians.
01:08Some even say that we need 60 thousand apprentices and technicians
01:13to meet our industry needs.
01:15But at the same time, we also find that those who have higher qualifications
01:21do not get a job equivalent to their skills.
01:28So the unemployment rate is quite high, 36.8%.
01:35So there is a mismatch here.
01:38Indeed, we need technical workers, skilled workers,
01:42but skilled workers do not get a job equivalent to their qualifications.
01:46And the third is about education.
01:49Every year, our universities give birth to more than 300 thousand students.
01:58And one third of these numbers are actually students in the STEM sector,
02:06science, technology, engineering and so on.
02:09We also have an addition of more than 100 thousand TBEP graduates in various levels.
02:15But at the same time, our economy, if we follow the trend of the economy
02:20in the next 20-30 years, we will only be able to create
02:24at least 50 thousand jobs with high skills and high salaries.
02:29So there is a mismatch.
02:31So I see that we have positive numbers, we have positive development,
02:36but we also have challenges, especially in the job market.
02:40You mentioned that Malaysia has created 50 thousand TBEP graduates.
02:47So maybe there is an increase in the number of TBEP graduates this year?
02:53There is a little mistake earlier.
02:55I did not say that Malaysia gives birth to workers, I said jobs.
02:59This is a report from the World Bank last year stating that
03:04Malaysia has created 50 thousand TBEP graduates this year.
03:09So there is a little mistake earlier.
03:11I did not say that Malaysia gives birth to workers, I said jobs.
03:14This is a report from the World Bank last year stating that
03:17Malaysia has created 50 thousand TBEP graduates this year.
03:21So there is a little mistake earlier.
03:23I did not say that Malaysia gives birth to workers, I said jobs.
03:26This is a report from the World Bank last year stating that
03:29Malaysia has created 50 thousand TBEP graduates this year.
03:32So what we are doing is, especially in the past two years,
03:37when the Prime Minister launched the Madani Economic Framework,
03:46that is specifically for, I use the word reconfigure,
03:50we want to reconfigure our economy again,
03:54so that we on the one hand raise the ceiling.
03:57What does it mean? It means we want to increase the value of the economy.
04:00The value of the economy now, in the past 20 years,
04:03it has not been able to create or create more high-paying jobs.
04:07That value has been limited there.
04:09We have a middle, that's why you say you have a middle income trap and so on.
04:12So when the Madani Economic Framework says it wants to raise the ceiling,
04:16it means it wants to increase the value of our economy
04:19so that our SMEs are able to increase productivity,
04:23be able to compete not only in the country,
04:25but also in this region if not internationally.
04:29He will be able to generate greater profits
04:32through the use of high-value technology products.
04:36He is not just making low-value products.
04:38So all this is to raise the value of the economy
04:41so that the economy is able to produce more high-value jobs.
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