Malaysia Labour Market - 11 March 2024

Unemployment rate remained at 3.3% in January on sustained hiring

The unemployment rate remained unchanged for the third straight month in January (3.3%; Dec: 3.3%), maintaining its lowest since January 2020

  • Unemployed persons (-0.1% MoM; Dec: -0.2%): extending its 30-month decline, but the pace eased during the observed period.
  • In absolute terms, the number of unemployed persons fell to 567.3k (Dec: 567.8k), the lowest since February 2020 (525.2k). Additionally, the actively unemployed fell to 452.5k (Dec: 453.6k), marking the lowest since March 2020 (422.9k).