The number of unemployed Malaysians in August 2022 continues to decrease to 612.0 thousand compared to 620.7 thousand people in July 2022 while the unemployment rate remained at 3.7 percent based on the release Labour Force Statistics, Malaysia, August 2022 published by the Department Statistics of Malaysia today (Oct 11).
The position of the labour market in August 2022 remains stable following an improving economic performance.
Minister in the Prime Minister’s Department (Economy) Datuk Seri Mustapa Mohamed, in a statement today said: “As business and social activities continue to return to normal, the stronger economy’s need for labour is increasing.
He cited the demand for labour in Aug 2022 has increased by 30.5 thousand people or equivalent to an increase of 0.2 percent to 16.63 million people (July 2022: 16.60 million people) correspondingly, the labour force participation rate continues to record an increase of 0.1 percentage points to 69.7 percent in the month.
The number of working populations in August remained stable with a recorded increase of 39.3 thousand people or by 0.2 percent to 16.02 million people (July 2022: 15.98 million people).
The finding revealed that the number of people working in the Direct Service sector, especially in food & beverage service activities; Wholesale & retail trade; and Administrative activities & support services have increased.
The same trend was also noted in the Manufacturing and Construction sectors while employment in the Agriculture and Mining sectors and Quarrying is have seen a slight decline.
The category of salaried workers increased by 22.1 thousand people (+0.2 percent) to 12.17 million people in August 2022 (July 2022: 12.14 million people), representing 76.0 percent of working population. At the same time, the self-employed population also increased by 17.2 thousand people (+0.6 percent) to 2.80 million people (July 2022: 2.79 million people).
The government will continue to implement initiatives to ensure the unemployment rate remains low including continuing employment incentives to employers and facilitating job searches.
The minister said, between January 1, 2022 and September 30, 2022, a total of 58,550 people have benefited under the JaminKerja Program – Incentive Employment. The Social Security Organisation (SSO) has also succeeded in helping 143,643 people obtain jobs in the same period.
In line with the economic position which is improving shown by the growth projections of the Gross Domestic Product (GDP) to 6.5% – 7.0% this year as well as initiatives implemented by the Keluarga Malaysia Government, the labour market is expected to improve and remain at full employment, leading to a further decline in unemployment this year.