Subscribe in a reader | Subscribe by Email “Fully employed country” sounds great indeed! It seems economists defined a nation as having achieved full employment when the unemployment rate was below 4%. Since according to Statistics Department our unemployment rate was 3.6% in the second quarter of 2009 (down from 4% in the first quarter of 2009), the country has achieved “full employment”, says Deputy Human Resources Minister Datuk Maznah Mazlan.
Wondering about the fate of the 3.6% unemployed? Never fear, funds are here! Err..or “were” here. TheRM7 billion allocated under Working Capital Guarantee Scheme has been all used up and disbursed to 5,329 small and medium entrepreneurs. The scheme is given to those with working capital of less than RM20mil. The funds was increased from initial RM5 billion and was expected to last till END OF NEXT year, but alas, our deprived or overly-enthusiastic entrepreneurs couldn’t wait that long. International Trade and Industry Minister Datuk Mustapa Mohamed said 5,329 entreprenuers, 24% of them were bumiputras. The top borrowers are from the retail, wholesale and restaurant sectors (securing 36% of the funds), followed by 25% in the construction sector and 24% in the manufacturing sector. The independent MP Ibrahim Ali had to play his part and ask why only 24% bumiputra. According to the minister, many of them had been affected by the slow economy and did not expand their business. Or maybe competition is tough. Or maybe just too many loans available for them. Or maybe they are rich already (no more entrepreneurs). Or maybe only given to cronies. Or whatever.
Not only locals are fully occupied, even foreigners are flocking into the country as tourism industry picks up momentum. Tourism Minister Dr Ng Yen Yen must be very proud when she mentioned the below:
Foreign tourists arrival have increased by 14.3% in October A total of 2,078,485 tourists visited Malaysia in October compared with 1,818,304 tourists for the same month last year. From January till October, foreign tourist arrival increased 7.2% to 19.45mil compared to 18.14mil for the same period last year. The 10 countries with the most number of tourists visiting Malaysia are : Singapore, Indonesia, Thailand, Brunei, China, India, Australia, United Kingdom, Philippines and Japan. Of the countries, Australia tourists increased by 23.6%, followed byUnited Kingdom 19.5% and Singapore 16.6%. Revenue for the period January to June recorded an increase of 0.03% from RM24.46bil to RM24.47bil.
So, there you go folks! Good news as the year comes to an end in about 44 days. So go ask for bonus from your boss! 🙂
