Overall, employment increased 2.3 per cent to register 14.7 million persons contributed by own account workers. Meanwhile, employees who receive regular remuneration recorded a slower growth attributed by the performance of businesses in this quarter.
In total economy, compensation of employees contributed 35.3 per cent while gross operating surplus constituted 59.5 per cent. The remaining 5.2 per cent was net indirect taxes.
Based on the monthly manufacturing survey, employment grew 2.1 per cent in line with the performance of this sector which posted 5.3 per cent.
However, salaries & wages increased 13.9 per cent after registering 9.4 per cent in previous quarter.
Simultaneously, employment in services sector grew 1.7 per cent while salaries & wages posted a growth of 3.5 per cent.
During this quarter, the unemployment rate dropped slightly to 3.3 per cent from 3.4 per cent in previous quarter.
Generally, people are the most important resources of any organization. Employees are a company’s livelihood. According to Milliman et al., how employees feel about the work they are doing and the results received from that work directly impact an organization’s performance and its stability. The longer the companies kept their employees; there would be no additional expenditure spends to train new employees.
Thus, it becomes even more important for Malaysians’ organizations to understand the relationship of occupational stress and job satisfaction toward their employees’ in order to retain talents and increase the quality of Malaysia’s skill.