Friday March 31, 2006
1.1 million new jobs
EMPLOYMENT growth at 1.9% per year will create 1.1 million jobs, lower than the 3.2% per year achieved during the Eighth Malaysia Plan.
However, the economy is expected to maintain full employment with an unemployment rate of 3.5% in 2010.
The services sector will overtake the manufacturing sector to be the leading growth sector at 2.4% per year with a projected 693,400 jobs created, out of which 18.0% is expected to be in wholesale and retail trade as well as hotels and restaurants.
In the manufacturing sector, the expected increase in global demand, particularly for electrical and electronics goods as well as for wood products will contribute to the creation of 462,600 jobs.
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The demand for knowledge workers including senior officials and managers, professionals and technicians is expected to grow at an average rate of 2.5% per year.
Entrepreneurship and self-employment will be promoted as a viable category of employment including petty trading, SMEs, agriculture and services.
To this aim, the need for entrepreneurial values and change of mindset will be emphasised at higher education institutions while a special entrepreneur training programme will be implemented for unemployed graduates.
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