Reference no: EM132639873
Kota Bharu, 15 June 2015: From 2011 until 2014, the average annual unemployment rate in Malaysia was at 3% Minister in the Prime Minister's Department, Datuk Seri Abdul Wahid Omar, said in the first four years of the 10th Malaysia Plan (2011 - 2015) Malaysia has more than 400, 000 people looking for jobs. Malaysia had set a target i.e. 75% of graduates would find employment within six months of graduation. In 2011, with the introduction of 1Malaysia Training Scheme (SL1M), more than 53, 000 graduates with diplomas or degrees and those who passed the SPM and STPM have benefited from this programme. From this total, 19, 700 were graduates who had undergone training and were directly involved in the programme, while the rest received assistance from outreach programmes such as resume writing and interview skills. Source: Adapted from The Star Online, 2015.
a) Based on the above article, identify and briefly explain the type of unemployment and suggest TWO (2) direct control measures taken by the government to overcome this problem.
b) Briefly explain TWO (2) effects of unemployment to this country.
c) State any other TWO (2) policies that can be used to reduce unemployment by the government.
d) In your opinion, which type of monetary policy is more successful in controlling the effects of a severe recession in a country? Justify your answers.
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