The recent news highlighting as many as 45k employees will be temporarily laid off after Chinese New Year is a probably the worst thing to happen after another festive period in Malaysia . It caught everyone in surprise, especially when central government keep repeating their confident that the country can wheather the bad economy.
The electronic industry that hugely depending on the US market is the worst hit sectors, with Penang accounting a huge chunk of it.
November Manufacturing Statistic that had just been released, provide a bigger picture on how the current manufacturing situation is. Taking some important points.
The sales value of the Manufacturing sector in November, 2008 decreased 1.6% (RM734.2 million) year-on-year to record RM45.3 billion. The corresponding growth in October, 2008 was a revised 2.1%. Month-on-month, sales value was also down by RM460 million or 1.0%.
Total employees engaged in the Manufacturing sector in November, 2008 was 1,051,872 persons, a decrease of 53,257 persons or 4.8% compared to November, 2007. Month-on-month, the number of workers employed also decreased by 10,931 persons or 1.0% as compared to 1,062,803 persons employed in October, 2008.
On a positive side, the overall productivity has slightly increased, although no justification provided if it is achived by better process, machine assisted or human factor itself.
Productivity or average sales value per employee in November, 2008 went up by 3.4% year-on-year to register RM43,058.35. The comparative figure for November, 2007 was RM41,647.72. Productivity in November, 2008, also increase by 0.02 % as compared to the preceding month.
Full statistic can be obtained here
