KUALA LUMPUR, Dec 10 — The unemployment rate is targeted to drop to three per cent next year, compared to the 3.4 per cent recorded this year.

Human Resources Minister V. Sivakumar said that the target rate could be achieved in the coming year.

"The target reduction to three per cent next year is something positive in the economic context, and the rate is considered reaching full employment,” he said when met by reporters after the closing ceremony of the Madani Government One-Year Anniversary Programme at the Bukit Jalil National Stadium here today.

Sivakumar said that the Ministry of Human Resources (MoHR) is continuing its efforts to reduce the unemployment rate among youth and graduates in terms of job placement in the professional sector.

He said that MoHR, along with the Social Security Organisation (Perkeso) through My FutureJobs, will plan the best mechanisms to provide better job opportunities for these groups in the future.

He added that the ministry will also focus on formulating policies related to gig economy workers, including food delivery services, p-hailing and e-hailing, as guidelines before establishing specific acts to protect their interests, especially in terms of income and social security.

He said the lack of specific laws or acts to ensure the welfare of over 1.1 million gig economy participants in Malaysia has left this group without full protection.

Meanwhile, Local Government Development Minister Nga Kor Ming, when asked about the grievances from young people about the difficulty of obtaining affordable homes in the capital, said that the matter would be scrutinised in line with the government’s commitment to ensure every family can afford their own home.

He said those efforts would continue to be intensified, and so far, almost 260,000 units of affordable homes have been constructed and completed under the 12th Malaysia Plan. — Bernama