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💢 Covid-19 pandemic has significant impact on household income💸

Updated: Nov 26, 2021

KUALA LUMPUR (Aug 6, 2021):

Number of poor households in Malaysia increased from 405,400 in 2019 to 639,800 in 2020.

Department of Statistics Malaysia (DOSM) says that the Covid-19 pandemic has made more Malaysians poorer. 💸

Malaysians have become poorer...averagely

Poverty also increased, from 5.6% in 2019 to 8.4% in 2020

The percentage decrease in income for B40 and M40 households was larger than the T20 household group, the income distribution for B40 and M40 declined to 15.9% (2019: 16%) and 36.9% (2019: 37.2%) respectively.

This reduction in income was not only caused by job loss but also contributed by a reduction in working hours and increase in skill-related underemployment.

Kelantan remained to record the lowest mean and median income with RM4,411 and RM3,010 respectively.

The impact of the Covid-19 pandemic may be temporary as the economy is expected to improve and recover as the spread of the pandemic can be contained.

On the contrary, some people are getting richer due to the pandemic as they can see & grab the best opportunities for them.

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