A general view of city skyline including Malaysia’s landmark Petronas Twin Towers in Kuala Lumpur, Malaysia, Feb. 3, 2023. Photo by Reuters
Malaysia recorded its lowest unemployment rate in 11 years last November, at 2.9%, with the number of jobless falling to 518,400.
The last time the unemployment rate dropped below 3% was in November 2014, according to its Statistics Department.
Chief statistician Mohd Uzir Mahidin said favorable economic conditions last November continued to support steady growth in the labor market.
The number of employed persons rose 0.2% from the previous month to 17.09 million, while categorized employees increased 0.1% to 12.78 million.
Mohd Uzir said Malaysia’s labor market is expected to remain stable and maintain positive growth in the coming months, supported by emerging job opportunities in strategic sectors, ongoing reskilling and upskilling initiatives and more balanced employment growth between urban and rural areas.
Key growth areas included human health, social work, wholesale and retail trade, and accommodation and food services. Growth was also recorded in agriculture, manufacturing, construction, and mining and quarrying.
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