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Unemployment among Malaysian youth low – CIMA

YOUTH unemployment in Malaysia is considered low compared to some developed countries due to the high education level and economic stability of the country.

Chartered Institute of Management Accountants (CIMA) Executive Director of Education, Noel Tagoe, said about 75 million youth globally were jobless or unemployed.

Tagoe said about one million young people (18-30) were were thought to be unemployed in Malaysia.

“For a country like Malaysia, unemployment is not a huge problem as the economy is growing and more jobs are created.

“For instance, if you look at Spain, about 56 per cent the young people are unemployed as they were hard-hit by the sluggish global economy,” he told reporters after the launch of CIMA’s innovative 2015 Professional Qualification here today.

In response to the growing concern on the rising figure of youth unemployment globally, CIMA conducted a research which involved face-to-face meetings with leading organisations in countries such as Malaysia, UK, US and South Africa, he said.

He said from the series of roundable discussions in 13 countries and a global questionnaires to over 3,000 participants, CIMA has identified that the reason youths failed to get the job they wanted was because top employers focused on professional and leadership skills.

Tagoe said over half (52 per cent) of the employers were prepared to develop skills once they recruited their talent base, while almost half, or 44 per cent, said they expecte recruits to be ready-equipped with the management skills.

Based on the survey, CIMA  produced an innovative syllabus focused on equipping the finance professionals of the future with the skills to meet the business needs of today and tomorrow. — BERNAMA

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