New partnership to help fresh graduates in Malaysia

Updated: Oct 2, 2021

MALAYSIA: Malaysia's Social Security Organisation (Socso) has inked a partnership with the SME Association of Malaysia and five private higher learning institutions to build long-term cooperation in support of new graduates’ employment.

The Memorandum of Understanding was signed virtually between Socso and SME Malaysia, along with Taylor University, HELP University, INTI International University and Colleges, University Tunku Abdul Rahman (UTAR) and Tunku Abdul Rahman University College.

Socso CEO Datuk Seri Mohammed Azman Aziz Mohammed said the aim was to increase the employment placement rate of graduates.

“Socso hopes to reduce the mismatch between the skills provided by the universities and the skills required by employers,” he said.

He added that, according to statistics from July 2021, some 150,000 formal workers lost their jobs, while over 768,700 individuals remained unemployed.

The country’s unemployment rate climbed to 4.8% in June 2021, as the labour force responded to the full Movement Control Order. The lockdown also caused some of the labour force to go into a state of inactivity, leading to a decline of 16.07 million individuals compared to 16.1 million individuals the month before.

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