SOCSO to monitor retrenchment, job loss during COVID-19 crisis

KUALA LUMPUR, April 25 -- The Social Security Organisation (SOCSO), through the Employment Insurance System (EIS), is actively monitoring retrenchment or loss of employment cases nationwide in all sectors, following the current economic conditions affected by COVID-19 pandemic.

As of April 22, EIS had recorded 205,342 applications from employers under the Wage Subsidy Programme (WSP) that stabilised the employment of 1.67 million workers, while over 25,411 employers had applied for Employment Retention Programme (ERP) covering 208,907 workers who were on unpaid leave.

These initiatives, SOCSO said were aimed at stabilising employment, avoiding massive retrenchment and safeguarding jobs, hence, enabling workers especially in the B40 group to put food on the table during this difficult time.

“Even though there is a spike in the EIS benefits’ claims, the number of workers losing their jobs is still manageable, where the loss of employment figures is still below 6,000 workers per month.

“Nevertheless, we are monitoring the situation closely on a daily basis and advising the government of any unexpected increase,” it said in a statement today.

As for post-COVID-19 initiatives, SOCSO said the Ministry of Human Resources is in the process of reforming and strengthening the Malaysian Public Employment Services, introducing various active labour market policies and programmes, promoting jobs creation, as well as ensuring the workforce is equipped with current skills and competencies to meet the rapid changes in the labour market landscape and the future world of work.

Besides that, it said, there is also a need to review the existing law particularly to widen the scope of coverage of the EIS and income protection for the most vulnerable segment of society, the self-employed in the informal sector. -- BERNAMA

Source: Bernama

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