Almost 50% of self-employed Malaysians LOST their jobs no thanks to the Movement Control Order to stop the spread of Covid-19 Virus. According to a survey conducted by the Department of Statistics, almost half of the business owners have lost their livelihood. As many as 168, 182 Malaysians have responded to the online survey. Self-employed workers made up 11.7% or around 19,675 of the total number of respondents.
The survey entitled, "Effect of Covid-19 on the Economy and Individual," showed a staggering 46.6% of self-salaried Malaysians no longer have the means to put food on the table. Let's find out more about what the survey has discovered shall we?
Effect of Covid 19 on Economy & Individual
Respondents: 168, 182 people
➤46.67% of self-employed are jobless (19,675 people)
➤53.33% of self employed were still working experienced 95% drop in income
➤71.3% cannot sustain themselves anymore if MCO were to be extended
[Employers (Business Owners)]
➤2.9% out of the 23.38% of employers have lost their business (4,877 people)
➤28.3% of employers experience a 90% drop in income
6.2% or 10,427 respondents were not affected by the MCO at all.
52.6% or 88,464 respondents were very affected by the MCO!
The survey showed that those who are working under GLC (Government Linked Companies) and MNC (Multinational Companies) were the ones who suffered the least impact that is brought by MCO; 78.9% and 75.2% of them respectively claimed that they have savings that could help them to tide through for up to 4 months. This goes to show that job security and savings is very important especially during emergencies such as this. Do we have a backup plan?
Is your financial safety net "strong" enough?
Do you have enough savings?
So if the government were to extend the Movement Control Order tomorrow till the end of the month (30th of April), more will be stretched financially especially those who are self-employed and bosses who have to pay the salaries of their workers. In the end a lot of businesses will go bankrupt and employees will be jobless and lives will be affected. It is a cycle. With government's promised aid coming in late or not sufficient at all, this will be a very testing time for all of us. The least that each and everyone of us can do right now is to stay at home! You are a KILLER if you do not stay at home! So let's pray for the best, stay at home and hope that the spread of the Covid-19 virus can be contained.
Stay at home to SAVE JOBS & LIVES!
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