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COVID-19: Impact on The Gig Economy

1)They say that If the situation persists, the retrenchment figure can reach as high as 100,000, which is more than double in 2019, can you give some context to this prediction? 

There are certain sectors of the economy that have impacted negatively more than others, at the same time some sectors like the healthcare sector and pharmaceutical are posting very good results.

Many Malaysian have already embraced the “Gig Economy” which means that they will be able to shift their skills into sectors that need more labour at the moment.

For those that are faced with layoffs the government has successfully implemented the Employment Insurance System under PEKESO which will help those looking for jobs with assistance.

So in that context Malaysia is better off than when the SARS hit a few years ago.