World Bank: Cambodia Has The Lowest Unemployment Rate in ASEAN
World Bank: Cambodia Has The Lowest Unemployment Rate in ASEAN
All 10 ASEAN member states have faced a sudden increase in unemployment in 2020 compared to the year previously as a consequence of the global pandemic, but Cambodia has the lowest unemployment rate in the bloc.
According to World Bank’s Unemployment Rate 2020, the unemployment rate in Cambodia was only 0.31 percent, while Lao PDR 0.95 percent, Thailand 1.02 percent, Myanmar 1.79 percent, and Vietnam 2.27 percent.
Brunei has the highest unemployment in ASEAN at 8.37 percent, Singapore 5.19 percent, Malaysia 4.55 percent, Indonesia 4.11 percent, and the Philippines 3.36 percent.
The severe economic and labour market impact as a result of the pandemic on employment requires urgent, large-scale and targeted responses, said the ASEAN Post.
To settle this issue, it added, the International Labor Organisation (ILO) recommended to design well-targeted active labour market programmes.
