Over 70,000 job losses recorded this year, nearly half involve diploma holders

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Kritik
08 Oct 2026
11
SubCategory | Corporate News

Over 70,000 job losses recorded this year, nearly half involve diploma holders

By Tarrence Tan and Benjamin Lee

KUALA LUMPUR: Job losses this year reached 70,240 as of Sept 25, with diploma holders and above making up nearly half, says the Human Resources Ministry.

Citing Social Security Organisation (Socso) data, the ministry said 34,800 of the workers, or 49.54%, held a diploma or higher qualification.

Manufacturing recorded the highest number with 13,052 workers, or 18.58%, followed by wholesale and retail trade with 12,910 (18.38%) and construction with 7,215 (10.27%).

"In the same period, job placements for those in career transition stood at 22.75%, or 15,980 people," the ministry said in a written parliamentary reply on Thursday (Oct 8).

Of those placed, 7,725 were skilled workers with a diploma or higher.

The ministry said it took about three months on average to place a worker in a new job.

It said the Early Re-employment Allowance, paid as a lump sum, had been raised from 25% to 50% of the unpaid Job Search Allowance from Oct 1, in line with amendments to the Employment Insurance System Act this year.

The ministry said Socso's MYFutureJobs portal was the country's main job search platform for those in career transition.

"Through this portal, there is also the Career Bridge Tool system, which links job seekers, including skilled workers who have lost their jobs, with matching jobs according to their qualifications, skills, experience and labour market needs," it said.

It was replying to Muhammad Fawwaz Mohamad Jan (PN-Permatang Pauh), who asked for the latest job loss figures, the hardest-hit sectors and how effective MYFutureJobs had been in placing skilled workers laid off due to closures and downsizing.

In July, the ministry said 42,807 workers had lost their jobs between January and June 12, with manufacturing accounting for 8,702 cases.

Source: https://www.thestar.com.my/news/nation/2026/10/08/over-70000-job-losses-recorded-this-year-nearly-half-involve-diploma-holders

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