DOSM released the latest employment report, indicating a positive trend with a month-on-month increase of 0.1 per cent or equivalent to 19.9 thousand persons to record 16.35 million persons in August 2023 (July 2023: 16.34 million persons).
August’s employment-to-population ratio, which indicates the ability of an economy to create employment, stood at 67.7 per cent as in the previous month.
By economic sector, the number of employed persons in the Services sector continued its upward trend, largely in Wholesale & retail trade; Food & beverage services; and Transportation and storage activities. In addition, the Manufacturing, Agriculture, Construction as well as Mining & quarrying sectors also registered increases in the number of employed persons during the month.
The employees’ category, which made up the largest composition of employed persons at 75.4 per cent, improved by 0.1 per cent (+10.9 thousand persons) to 12.32 million persons (July 2023: 12.31 million persons). On the same note, the own-account workers also posted a rise of 7.9 thousand persons (+0.3%) to 2.97 million persons (July 2023: 2.96 million persons).
In August 2023, the number of unemployed persons continued to trend down, registering a fall of 0.3 per cent (-1.9 thousand persons) to 577.3 thousand persons (July 2023: 579.2 thousand persons). August’s unemployment rate was unchanged at 3.4 per cent as recorded last month.
In August 2023, the labour force strengthened further by 0.1 per cent (+17.9 thousand persons) month-on-month to record 16.93 million persons (July 2023: 16.91 million persons). August’s labour force participation rate (LFPR) held steady at 70.1 per cent as of July 2023.
The number of persons outside the labour force during the month registered an addition of 6.3 thousand persons (0.1%) to 7.23 million persons (July 2023: 7.23 million persons). The largest composition of the outside labour force was due to housework/ family responsibilities with 42.9 per cent, and subsequently, 40.1 per cent by reason of schooling/ training.
