Policies for the future of Malaysia’s youth - Calvin Cheng Calvin Cheng

PowerPoint Presentation Institute of Strategic & International Merdeka Centre Webinar Series Studies (ISIS) Malaysia June 2021 Economics, Trade and Regional Integration (ETRI) Policies for the future of Malaysia’s youth Calvin Cheng calvin.ckw@isis.org.my CaTlwviitnte rC: heng Em@aicla: clvailnvcinh.ecnkgwk@wisis.org.my Twitter: @calvinchengkw COVID-19’s unequal impacts: youth in peril Calvin Chen. [...] 2019 More Malaysians are now out of work for longer Fiscal measures only make up a small portion of the stimulus Unemployed by duration, 1Q2021/4Q2019 packages over the past year Stimulus packages since 2020, by component +250K Fiscal measures (excl. [...] infrastructure) Duration of unemployment Non-fiscal* RM69 billion RM272 billion Of which +77K Infrastructure +42K spendingRM4 billion <6 months 6+ months Population outside labour force Source: MOF, PMO, Author’s estimates Source: DOSM LFS, Author’s estimates *including quasi-fiscal measures Policies for the future of Malaysia’s youth Calvin Cheng, June 2021, “Policies for the future of Malaysia’s. [...] Expanding collective bargaining rights 112 benefits workers and helps improve labour standards3 105 98 90 90 60 44* 14 10 1 0 0 2 0 Gould & Kassa, 2020 2 Zipperer & Schmitt, 2020 3 Shierholz, 2019; Kochan, 2015; Lambert, 2014 Singapore Vietnam Philippines Cambodia Thailand Indonesia Malaysia Source: ILO, Wikipedia, Author’s estimates; *Including 4 weeks shared with the mother; **Median Policies fo. [...] Increasing workforce skills (Policy 6) the quality and access to vocational training is linked to lower rates of youth unemployment1 ● Stimulating entrepreneurship and business formation via stronger safety nets to encourage risk-taking (Policy 1) and ● Encouraging “high-road” employment models via tax encouraging small business innovation credits/grants, sectoral partnerships, better labour stand.