Analysis of Malaysia’s future talents using time series

Farhan Arshad, Mohamad Rai’zuddin and Ramli, Nor Azuana and Ab Rashid, Nuryasmin (2022) Analysis of Malaysia’s future talents using time series. Mathematics and Computational Sciences, 3 (1). pp. 1-12. ISSN 9772442284003. (Published)

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The unemployment rate has been increased after the pandemic and it also effects the youth unemployment rate. This research aims to investigate the issues relating to youth talents and employment. In achieving this aim, the main objective is set to forecast the future trend of Malaysia's labour force and employed rate in the upcoming 10 years by using time series analysis. Data of labour force are collected through Department of Statistics Malaysia Official Portal. After data cleaning and pre-processing, the data will be analysed by using Double Moving Average and Holt’s Method. The model will be evaluated using R-squared, root mean squared error and mean absolute percentage error. Based on the analysis, the Holt's Method is the best for the number of employed persons by age group (25 to 59 years old) as the model achieves better in each evaluation metric. To conclude, the demand for jobs also increases as the population increases. If this is not manageable, it can cause a higher rate of youth unemployment and the Twelfth Malaysia Plan to develop future talents might not be successful.

Item Type: Article
Uncontrolled Keywords: Unemployment; Youth; Time Series; 12th Malaysia Plan; Holt’s Method
Subjects: H Social Sciences > HA Statistics
Q Science > QA Mathematics > QA75 Electronic computers. Computer science
Faculty/Division: Center for Mathematical Science
Institute of Postgraduate Studies
Depositing User: Dr. Nor Azuana Ramli
Date Deposited: 19 Apr 2023 03:02
Last Modified: 19 Apr 2023 03:02
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