Malaysia Records 3.3 Per Cent Unemployment Rate

The number of unemployed declined slightly to 566.4 thousand persons in April 2024, registering an unemployment rate of 3.3 per cent, the Department of Statistics Malaysia (DOSM) reported today in the release on Statistics of the Labour Force, Malaysia, April 2024.

The statistics described the labour supply situation based on the Labour Force Survey conducted by DOSM.

Commenting on the overall performance for April 2024, Chief Statistician Malaysia, Dato’ Sri Dr. Mohd Uzir Mahidin said, “The labour market in April 2024 remained steady, reflecting the encouraging growth of Malaysia’s economy. Thus, the number of labour force in April 2024 edged up by 0.1 per cent, registering 17.12 million persons (March 2024: 17.10 million persons), with the labour force participation rate stood at 70.3 percent as in the prior month.”

Adding to this, Dato’ Sri Dr. Mohd Uzir Mahidin stated that the number of employed persons in April 2024 continued to record increases, with a month-on-month growth of 0.1 per cent to 16.56 million persons compared to the previous month (March 2024: 16.53 million persons).

In the meantime, the number of unemployed persons during the month posted a slight decrease of 0.04 per cent to 566.4 thousand persons, as against 566.6 thousand persons in March 2024. The unemployment rate in April remained at 3.3 per cent, as recorded last month.

Elaborating further on the employment situation, the Chief Statistician Malaysia said, “The employees’ category formed 75.1 per cent of the total employed persons in April 2024. This group rose by 0.1 per cent to 12.43 million persons (March 2024: 12.42 million persons). On the same note, the own-account workers category continued its upward trend, with a growth of 0.3 per cent to 3.04 million persons (March 2024: 3.03 million persons).”

Explaining on the employment by the economic sector, the Services sector continued to record a rise in the number of employed persons, mainly in the Information & communication, Food & beverage services and Transportation & storage activities. A similar trend in the number of employed persons was also observed in the Manufacturing, Construction, Mining & quarrying sectors, as well as the Agriculture sector during the month.

Dr. Mohd Uzir stated that 79.7 per cent of the total unemployed persons were actively unemployed or those who were available for work and were actively seeking jobs.

This category declined marginally by 0.03 per cent to 451.4 thousand persons (March 2024: 451.5 thousand persons).

Among the actively unemployed, those who were unemployed for less than three months encompassed 61.7 per cent, while those who were in long-term unemployment for more than a year were 6.7 per cent.

Likewise, those who believed that there were no jobs available or the inactively unemployed slightly decreased by 0.05 per cent to record 115.0 thousand persons (March 2024: 115.0 thousand persons). The unemployment rate for youth aged 15 to 24 years remained unchanged at 10.6 per cent in April 2024, recording 305.9 thousand unemployed youth.

The unemployment rate for youth aged 15 to 24 years remained unchanged at 10.6 per cent in April 2024, recording 305.9 thousand unemployed youths (March 2024: 10.6%; 306.3 thousand persons). On the same note, the unemployment rate for youth aged 15 to 30 years was 6.5 per cent, with 434.9 thousand unemployed youths (March 2024: 6.6%; 434.5 thousand persons).

As for the inactivity group, the number of persons outside the labour force in April 2024 registered a slight increase of 0.01 per cent to 7.23 million persons (March 2024: 7.23 million persons). The main reason for being outside the labour force was due to housework/ family responsibilities with a share of 42.7 per cent, followed by schooling/ training at 41.4 per cent.

He said the positive growth of Malaysia’s economy is projected to continue in the coming quarters, backed by resilient domestic spending patterns and an increase in tourism activity, as well as the positive labour market position and revenue growth. Moreover, external demand is also expected to recover as Malaysia benefits from an increase in global production and international trade.

Stronger public sector investment in line with progress in the construction sector, especially continued infrastructure development under the 12th Malaysia Plan, will lead to an increase in more jobs. This situation will encourage more people to enter the job market, thus boosting Malaysia’s labour market position. Therefore, a more optimistic condition of the country’s labour force is expected in the coming months, in line with Malaysia’s favourable economic performance.

Previous articleBright Outlook For Malaysia’s Palm Oil Sector
Next articleVellayan Subbiah Named EY World Entrepreneur Of The Year 2024

LEAVE A REPLY

Please enter your comment!
Please enter your name here