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Malaysia – MIDF: Labour market recovery continues

  • Feb 10, 2023

KUALA LUMPUR: Malaysia’s labour market recovery continued as the unemployment rate was maintained at 3.6% in December 2022, according to MIDF Research.

It said the unemployment rate for people aged 15 to 24 descended to a new pandemic low of 11.8% but remained higher than the pre-pandemic level of 10.4% in 2019.

It said labour force and employment continued expanding 2.4% year-on-year (y-o-y) and 3.1% y-o-y respectively supported by robust domestic economic growth and an upbeat external front.

“Unemployment dipped by 12.8% y-o-y, marking the 16 consecutive months of contraction rate. The outside labour force reduced by 1.3% y-o-y, registering 14 straight months of negative growth rate,” it said. — Bernama