ASEAN people find it increasingly tough to seek employment: survey
Now is not a good time to be looking for a job in Southeast Asia as economic growth cools down across the region, according to FT Confidential Research (FTCR) – a unit of the Financial Times.
A job interview at a job fair in Vietnam (Photo: VNA)
London (VNA) – Now is not a good time to be looking for a job in Southeast Asia as economic growth cools down𓆉 across the region, accordingꦜ to FT Confidential Research (FTCR) – a unit of the Financial Times.
The FTCR expects unemployment to rise in the ASEAN region this year after significant job losses in 2015.
An FTCR survey of jobseekers in five of the region’s biggest economies shows that more than half of them are finding it either hard or very hard to land a new job.
The survey was conducted in Indonesia, Malaysia, the Philippines, Thailand and Vietnam during the last quarter of 2015, with 1,000 respondents in each country.
Malaysians in particular were pessimistic about their prospects. About two-thirds of the respondents described the job market as tough.
There have been lay-offs across the economy. CIMB, Malaysia’s second-largest bank, cut 4,000 jobs last year. Several other banks also downsized as loan growth slacked off.
Malaysia Airlines fired 6,000 employees last year as it cut costs after years in the red and struggled to recover from the loss of two of its aircraft. Malaysia’s oil and gas industry is also shedding jobs.
Among those still in work, the survey found that a large minority of ASEAN workers were worried about job security. Malaysians still stood out with 6 percent saying they felt very insecure, followed by Thai workers at 4 percent.-VNA
Young people make up a large proportion of unemployed labourers, according to figures released by the Department of Employment under the Ministry of Labour, Invalids and Social Affairs (MOLISA).
While hopes are high that the coming ASEAN Economic Community (AEC) will bring opportunities to Vietnamese labour, the country's workforce still has a lot of work to do to take advantage of them.
Jobs in Vietnam will increase by 14.5 percent by 2025, thanks to the country’s participation in the ASEAN Economic Community (AEC), the International Labour Organisation (ILO) forecasts.
Improving human resources and revamping the labour structure are strategic solutions to improving the competitiveness of the economy in the context of deeper and wider international integration.
The Republic of Korea (RoK), China and Japan agreed on May 3 to reinforce the regional financial safety net, along with members of the Association of Southeast Asian Nations (ASEAN), by launching a new financing facility programme meant to extend greater support in case of a financial crisis.
A technical issue combined with an extreme heatwave was blamed for a series of explosions at a military base that killed 20 soldiers and injured several others in Cambodia on April 27, the country’s Ministry of Defence said in a May 2 statement as reported by the Xinhua news agency.
The Customs Department of Thailand is scheduled to commence the collection of value-added tax (VAT) on imported goods sent via postal services, regardless of the goods value, starting in May.
A lecturer from Chulalongkorn University’s Faculty of Medicine has warned Thais to be more vigilant against COVID-19, saying infection rates appeare to be worsening with higher hospital admissions, deaths and severe cases.
Malaysia should harness the collective expertise and resources to drive sustainable growth and development of the halal industry, according to Minister of Investment, Trade and Industry Zafrul Abdul Aziz.
Laos has officially restored the 10% value-added tax (VAT) rate starting May 1, in a bid to support the country’s budget revenue and socio-economic development.
The ASEAN Future Forum 2024 (AFF 2024) entered its second plenary session in Hanoi on the afternoon of April 23, discussing ways to ensure comprehensive security for the people-centred ASEAN Community.
The first session of the ASEAN Future Forum 2024 (AFF 2024) in Hanoi on April 23 focused on fast and sustainable growth for the Association of Southeast Asian Nations (ASEAN).
The Canada-ASEAN Business Council (CABC) and the ASEAN Alliance on Carbon Markets (AACM) have signed a Memorandum of Understanding (MoU) to strengthen collaboration and accelerate the implementation of carbon crediting programmes across Southeast Asia.
ASEAN Secretary-General Kao Kim Hourn reaffirmed ASEAN leaders' commitment to empowering the youth to unleash their full potential when he had a dialogue with ASEAN youth in Hanoi on April 22 on the sidelines of the ASEAN Future Forum (AF 2024).
The Thai Government is being urged to increase the proportion of renewable power generation to more than the target of 50% set in the power development plan (PDP).
The Centre for Volcanology and Geological Hazard Mitigation (PVMBG) of Indonesia on April 21 lifted its tsunami advisory issued previously following the eruption of Mount Ruang in Sitaro district of North Sulawesi province.
Thailand expects to export about 1 million tonnes of durian, valued at an estimated 130 billion THB (3.53 billion USD) this year, with most of the shipments to China, according to Minister of Agriculture Thammanat Prompao.
The 72nd meeting of the ASEAN Working Group on Intellectual Property Cooperation (AWGIPC) and related meetings are being held by the Ministry of Science and Technology’s Intellectual Property Office (IPO) of Vietnam in the central city of Da Nang on April 22-26.
Enhancing regional food security and tackling the pressing challenges of climate change will be key agendas defining Malaysia’s ASEAN Chairmanship in 2025, Speaker of the Dewan Rakyat (lower house) Johari Abdul told the press on April 19.
A job interview at a job fair in Vietnam (Photo: VNA)
