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Malaysia's unemployment rate remains unchanged at 3.7 pct in August

KUALA LUMPUR
2022-10-11 15:00

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KUALA LUMPUR, Oct. 11 (Xinhua) -- Malaysia's unemployment rate in August remained unchanged at 3.7 percent as compared to July, official data showed Tuesday.

The number of unemployed persons sustained its downward trend, falling 1.4 percent to 612,000 persons from 620,700 in July, the Department of Statistics Malaysia (DOSM) said in a statement.

Meanwhile, the employed persons remained stable, rising 0.2 percent to 16.02 million persons from 15.98 million persons in July.

The employment-to-population ratio, which indicates the ability of an economy to create employment, went up by 0.1 percentage points to 67.1 percent in August.

By economic sector, the number of employed persons in the service sector remained on an increasing trend, particularly in food and beverages service, wholesale and retail trade, administrative and support service activities.

A similar trend was observed in the manufacturing and construction sectors, while the number of employed persons in the agriculture and mining and quarrying sectors continued to decrease.

During the month, the number of the labor force strengthened further with an increase of 0.2 percent to 16.63 million persons.

Consequently, the labor force participation rate continued to increase by 0.1 percentage points to 69.7 percent.

"In line with the improving economic condition, the labor market is expected to continue to flourish in the upcoming months, coupled with new entrants into the labor market as well as the entry of foreign labor into the country in the near future, which is expected to meet the increasing needs of the labor force in the market," said the DOSM.
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