Youth unemployment in Malaysia is considered low compared to some developed countries due to the high education level and economic stability of the country.
Chartered Institute of Management Accountants (CIMA) Executive Director of Education, Noel Tagoe, said about 75 million youth globally were jobless or unemployed.
Tagoe said about one million young people (18-30) were were thought to be unemployed in Malaysia.
“For a country like Malaysia, unemployment is not a huge problem as the economy is growing and more jobs are created.
“For instance, if you look at Spain, about 56% the young people are unemployed as they were hard-hit by the sluggish global economy,” he told reporters today.
In response to growing concern on the rising figure of youth unemployment globally, CIMA conducted a research which involved face-to-face meetings with leading organisations in countries such as Malaysia, UK, US and South Africa, he said.
He said from the series of roundable discussions in 13 countries and a global questionnaire issued to over 3,000 participants, CIMA found that the reason youths failed to get the jobs they wanted was because top employers focused on professional and leadership skills.
Tagoe said over half (52%) of the employers were prepared to develop skills once they recruited their talent base, while almost half, or 44%, said they expect recruits to be ready-equipped with the management skills.
Based on the survey, CIMA produced an innovative syllabus focused on equipping the finance professionals of the future with the skills to meet the business needs of today and tomorrow.