International and Comparative Labor Relations Commons^™

The Impact Of The 1997 Economic Crisis On The Labour Market In Malaysia, Janitha Nadarajah

Student Works (2000-2009)

Malaysia's rapid economic growth since 1988 was sustained through 1995, between the year's real gross domestic product (GDP) growth was generally above 8% per annum. Malaysia's impressive decade - long growth came to an abrupt halt during the Asian economic crisis, which occurred in July 1997. The crisis had caused massive capital movements and all of Southeast Asia countries had been severely affected. This research paper analyzes the impact of the economic crisis on the labour market in Malaysia. The analysis focuses on employment growth, retrenchment and job opportunities. The full impact of the crisis was clear in 1998 when …