Malaysian economy can absorb workers supply - TalentCorp

The Malaysian economy has the capacity to absorb the supply of workers as a whole, said Talent Corporation Malaysia Bhd (TalentCorp).

Quoting the 2016 Labour Force Survey Report published by the Department of Statistics, TalentCorp Chief Executive Officer Shareen Shariza Abdul Ghani said the working age population stood at 14.7 million, 14.2 million of which were employed.

"We can see that there is a positive trend between the working age population and the number of employed persons annually, as the growth are in tandem every year.

"We also foresee a positive future as Malaysia is growing, and future economic activities will also help to create more jobs," she said during a presentation entitled ''Is Malaysia Prepared for the Future of Work and its Demanding Reality'', organised by TalentCorp, here Tuesday.

The presentation looked into the future of work and what it meant for employers, talents and the country at large.

Commenting on the unemployment among graduates, Shareen said there was a need to address the mismatch between the increase in the tertiary-educated labour force and slow growth in high-skill employment, saying that graduates in the labour force outnumbered high-skill jobs in the economy.

"We need to minimise the skills mismatch between that of fresh graduates and the industry''s requirements," she said.

She said a proper talent strategy was needed to attract, retain and nurture talent in preparing for the future. - BERNAMA