(Updated) 4th Industrial Revolution will have severe effect on job market: Najib

PUTRAJAYA: Workers must brace themselves for possible job displacements in the future due to the "Fourth Industrial Revolution" which is currently being experienced globally, says Datuk Seri Najib Abdul Razak.
The prime minister said the revolution brought about changes to the industry such as information technology and internet, robotics, nano technology and automation tasks.
Citing a report from the World Economic Forum, Najib said the Fourth Industrial Revolution would have a significant effect on the workers' market and jobs.
"Based on WEF's study covering 65% workforce globally, about 7.1 million jobs have the potential to disappear between 2015 to 2020 due to redundancy, automation and disintermediation," he said.
"Therefore, the government is looking seriously at current developments and is taking proactive measures in facing and handling the issue," he said in his keynote address in conjunction with the Labour Day celebration at Putrajaya International Convention Centre here today.
More than 5,000 workers were present at the ceremony, involving 200 contingents from various government departments and the private sector.
Among others present were Human Resources Minister Datuk Seri Richard Riot and his deputy Datuk Seri Ismail Abd Mutallib.
Najib said in preparing Malaysia to become a high-income advanced economy, the government is undertaking the five Workers' Transformational Leaps (Lonjakan Transformasi Pekerja) to produce creative and innovative workers.
The five leaps are:
1. Prioritising the welfare and wellbeing of workers and the vulnerable groups,
2. Optimising human capital and strengthening policy planning and wage system,
3. Promoting the Technical and Vocational Education Training (TVET) that is led by industry,
4. Strengthening public employment services provider agency, and
5. Expanding the social security protection.
Najib also announced that the government has agreed to allocate RM70 million to the Social Security Organisation (Socso) for the purpose of paying financial benefits under the Employment Insurance System (EIP) for the year 2018.
He added the amount was in addition to the earlier RM52 million allocated to Socso under the 10th Malaysia Plan.
He said the EIP would allow retrenched private sector workers to receive temporary financial aid to support their lives while they were looking for new jobs.
Touching on the Self-Employment Social Security Scheme, Najib said the government is mulling expanding its reach to other informal job categories in stages - such as fishermen, farmers, peddlers and artists.
He said the scheme in its current state, which would be in force starting June 1 this year, would provide protection to around 100,000 self-employed taxi drivers as well as those working in e-hailing services.
"Through this scheme, self-employed workers that are insured would be protected in an event of accident during work or if they experience any occupational disease," he said.
Najib also announced that mega job fairs will be held for job seekers at 11 Urban Transformation centres and four JobsMalaysia centres on May 20.
"We expect about 20,000 jobs will be up for grabs from 300 employers," he said.
Najib noted that the Labour Day celebration in Malaysia was celebrated in a peaceful manner, unlike in other countries where it was marred by controversy, confrontation and protests.
"This is (due to) to the harmonious tripartite relationship between the trade unions, employers and the government," he said.