Malaysia Labour Market - 11 July 2024

Unemployment rate held steady at 3.3% in May due to robust labour market

The unemployment rate remained unchanged for the seventh straight month at 3.3% in May (Apr: 3.3%), amid steady labour market conditions

  • Unemployment numbers fell by 0.1% MoM (Apr: - 0.04%): extending its 34-straight month of decline and at a faster pace in two months.
  • In absolute terms, the number of unemployed persons continued to decline to 566.1k (Apr: 566.4k), slowly approaching the pre-pandemic level of 525.2k (February 2020). Notably, the actively unemployed expanded for the first time in 34 months to 452.0k (Apr: 451.4k).