Malaysia Labour Market - 9 April 2024

February unemployment rate steady at 3.3% amid ongoing hiring

The unemployment rate remained unchanged for the fourth straight month in February (3.3%; Jan: 3.3%), matching pre pandemic level

  • Unemployed persons (-0.1% MoM; Jan: -0.1%): extending its 31-month decline, but the pace was unchanged for the second straight month.
  • In absolute terms, the number of unemployed persons fell to 567.0k (Jan: 567.3k), the lowest since February 2020 (525.2k). Additionally, the actively unemployed fell slightly to 452.4k (Jan: 452.5k), marking the lowest since March 2020 (422.9k).