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Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: Malaysia says 30,000 jobs lost amid global crisis AFP - Friday, April 17 KUALA LUMPUR (AFP) - - A Malaysian minister said Thursday that more than 30,000 local and foreign workers had lost their jobs this year amid the global slowdown. ADVERTISEMENT Deputy human resources minister Maznah Mazlan told state news agency Bernama the figure of 30,650 comprised 23,149 workers who were laid off, while the rest resigned. There was no explanation why so many had quit. The latest figure came after a labour group said late March that more than 26,000 people had lost their jobs in 2009 as employers are forced to cut back under pressure amid the worst global financial crisis in decades. An economist said the unemployment rate is expected to go up in the coming months but remained positive that it will be lower than the official 4.5 percent projected for this year. Unemployment for 2008 was 3.7 percent. "It hasn't reached an alarming level," Yeah Kim Leng, an economist with ratings agency RAM Holdings, told AFP. "We expect the number to rise 50,000 further by year end but given the improving outlook in industrial production as well as some stabilisation in global demand, it may not reach the 4.5 percent by year end," he added. The government in March unveiled a stimulus package worth 16.2 billion dollars but warned the export-driven economy could still shrink by 1.0 percent this year. An independent think-tank, however, said Wednesday that Malaysia's export-driven economy will shrink by 2.2 percent this year, citing gloomy business and consumer confidence. Official data released Thursday showed Malaysia's manufacturing sales, which are a key driver of the economy, dived 26.1 percent in February from a year earlier while people employed in the sector fell 6.5 percent from a year ago. Email Story IM Story Printable View Blog This Recommend this article 0 users recommend Sign in to recommend this article » Most Recommended Stories » Related Articles: China's Economy ECB will do utmost to restore confidence: TrichetAFP - 52 minutes ago Indonesian Islamic bonds oversubscribedAFP - 1 hour 29 minutes ago China loans 10 bln dlrs to Kazakhstan: state mediaAFP - 1 hour 30 minutes ago NZ inflation continues to ease from 18 year highAP - 1 hour 39 minutes ago Related Articles: Business Zurich Financial to buy AIG US unit for $1.9BAP - Friday, April 17 Rosetta Stone shares jump in public debutAP - Friday, April 17 Oil rises to $50 on economic recovery hopesAP - Friday, April 17 Survey: U.S. newspapers shed 5,900 jobs in 2008AP - Friday, April 17 Zurich to buy AIG auto unit for $1.9 billionReuters - Friday, April 17 Enlarge Photo Malaysia says 30,000 jobs lost amid global crisis Related Photos Slideshow Full Photo Coverage: Business & Economy Related Full Coverage China Economy china economy All Full Coverage Most Popular – Business Viewed Bad mood, better recall, researchers find Police nab Norwegian pair during high-speed sex French warship detains pirates, US urges action Harry Potter actor arrested over cannabis find US economy contracts further, remains weak: Fed View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

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