The cutback in public infrastructure spending, coupled with the sustained weakness in the property sector, will have a direct knock-on effect on the demand and hence prices for steel and cement.
KUALA LUMPUR: Labour market conditions in Malaysia improved in 2017 with an employment growth of 2.1 per cent or net employment gains of 295,000 persons, three times higher than in 2016 (0.7 per cent) or 96,000 persons.
Earlier, the Ministry of Human Resources revealed that almost 35,000 Malaysians lost their jobs in 2017, while another 1,065 were laid off in January of the year.
According to Bank Negara Malaysia's Factwatch.my website, the retrenchment of 35,000 persons in 2017 was still above the long-run average of 30,000 persons.
The long-run average is the average annual layoffs from 2000-2016, excluding the period of the Global Financial Crisis which took place between 2008 and 2009.
Net employment change (gain or loss) refers to the difference between employment levels in one period compared to the preceding period.
In January 2018, employment recorded a net gain of 30,400 persons from December 2017. - Bernama
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