The Department of Labour and Employment would provide emergency employment to informal workers who lost their jobs.
In February, out of the 1.35 million persons officially unemployed, 999,000 had lost their jobs due to the pandemic.
Before interest rates are raised, the unemployment rate will likely need to fall to between the “low 4s” and “high 3s”, said RBA deputy governor Guy Debelle.
The unemployment rate fell in February to pre-pandemic levels amid the rollout of vaccination and fiscal stimulus stimulating the economy.
The jobless rate for those 16 to 24 years old was 13.1% in February, more than double the national urban unemployment rate of 5.5%.
South Korea’s unemployment allowance payment hit a five-month high in February, surpassing 1 trillion won (US$884 million) again.
Hong Kong’s jobless rate climbed to 7.2% in the December-to-February period, up 0.2 percentage points from the November-to-January period.
Non-resident workers accounted for all of the employment decline, reported Singapore’s MOM.
“Joblessness is a result of ‘jablessness’ ... Mass inoculation is the cure to mass unemployment,” senate president pro tempore Ralph Recto has said.
The government is adopting a “granular” approach instead of hard lockdowns to address a stubbornly high unemployment rate.
In February, 114,101 newly unemployed workers registered for financial aid, while 487,143 people updated their unemployment status.
The Centre for Monitoring Indian Economy (CMIE) has said the country’s unemployment rate has fallen to 6.9% in February from 7.3% last July.
Despite the country being in a pandemic state of emergency, its unemployment rate declined and job availability increased, government statistics revealed.
About 180,000 Hongkongers who were unemployed for at least two months since the start of last year will also be eligible to apply for low-interest loans.
Unemployment will plague Hong Kong for years ahead, and that it may take more than three years for the jobless rate to fall below 5%.
Statistics Korea said the number of temporary and daily jobs for those in their 20s declined 18% in January due to the pandemic.
Smaller businesses saw a steep drop in employment numbers while that of larger conglomerates rose last year.
The minister said that it would be tricky to draw the line for when the scheme should stop, and urged that public policy needs to be fair.
The National Employment Council estimates that over 160,000 new jobs will be created this year through committed investments.
The Department of Statistics Malaysia (DOSM) has said the country’s unemployment rate increased 4.5% in 2020 – the highest in 27 years.
While unemployment is severe among the lower class, middle-level occupations have also been badly hit by unemployment.
The unemployment rate fell unexpectedly and salaries increased, ruling out the probability that the central bank will reduce interest rates.
While the number of regular jobs increased 0.5% in 2020, that of non-regular jobs — including part-time roles — fell 3.9%.
Out of those who could retain their jobs, about 83% of women workers in India faced a severe income drop, said Oxfam India.
The human resources ministry said the country’s employment situation improved quarter by quarter in 2020, exceeding expectations.
Although employment has recovered 90% of the fall from March to May, the recovery in part-time employment has outpaced full-time employment.
Among new recruits last December, some 407,000 people had experience working at a second job, data shows.
Though the overall unemployment rate is falling, hiring is not likely to surge in the short term.
The Malaysian Trades Union Congress had previously proposed emergency employment laws to be enacted to prevent businesses from retrenching workers.
Employment figures in the industrial and service sectors increased for the sixth consecutive month in November.