Malaysia Labour Market - 13 May 2024

Unemployment rate remains stable at 3.3% in March, expected to improve in 2H24

The unemployment rate remained unchanged in March (3.3%; Feb: 3.3%), for the fifth straight month, matching pre pandemic level

  • Unemployment figures fell 0.1% MoM (Feb: -0.1%): extending its 32-month trend of sustained decline.
  • In absolute terms, the number of unemployed persons continued to decline to 566.6k (Feb: 567.0k), the lowest since February 2020 (525.2k). Additionally, the actively unemployed fell slightly to 451.5k (Feb: 452.4k), marking the lowest since March 2020 (422.9k).