The pandemic has resulted in the world slipping into a global recession and mass unemployment – and Malaysia is no exception. Malaysia’s unemployment rate is currently the highest it has been in thirty years. YouGov surveys full-time workers in the nation, to find out how they are coping with job insecurity, and their attitudes towards unemployment.

A quarter (25%) of Malaysian employees feel insecure in their jobs, up 5% compared to pre-Covid figures, according to a survey from YouGov.

The survey found that one in twenty (6%) feel ‘very insecure’ and two in ten (19%) feel ‘somewhat insecure’. Meanwhile, 18% feel neither secure nor insecure and 57% feel secure in their jobs.

Middle-income earners (monthly household income between MYR 4,000 to MYR 7,999 (USD 962 to 1,924) are the most likely to feel secure in their jobs, whereas low-income earners (monthly household of less than MYR 4,000 (USD 962) a month) are the least likely to say the same (64% vs. 53%).

YouGov also found that 92% of employed Malaysians are experiencing some level of stress over losing their jobs while 8% feel ‘not at all stressed’.

In the event of losing their jobs tomorrow, 71% believe it will be difficult to find another one of similar pay and benefits while 40% think it’ll be ‘somewhat difficult’ and the other three in ten 31% think it’ll be ‘very difficult’.

About 18% are indifferent, and the remaining 7% would find it easy to find another job if they lose their job.

In the event of losing their jobs, 41% of Malaysian employees say they would be willing to take a pay cut of up to 20% to find another with a similar position while 20% are willing to take a pay cut between 21% to 40%, and 13% are willing to take a pay cut of more than 40%.