Malaysia's unemployment rate dips to 2.9pct in August as job market strengthens
KUALA LUMPUR: Malaysia’s unemployment rate declined to 2.9 per cent in August, with the number of unemployed persons falling by 1.7 per cent to 511,600 from 520,300 in July, according to the Statistics Department.
KUALA LUMPUR: Malaysia's unemployment rate dropped to 2.9 percent in August, as the job market showed improvement, according to the Statistics Department. The number of unemployed individuals decreased by 1.8 percent to 405,100 from 412,600 in July. The labour force grew by 0.1 percent to 17.39 million, while the labour force participation rate increased to 71 percent from 70.9 percent.
Employed persons rose by 0.2 percent to 16.87 million, with employees making up 74.9 percent of total employment. Own-account workers increased by 0.2 percent to 3.17 million. Actively unemployed persons, who were available and seeking work, were down by 1.8 percent to 405,100. Of those seeking employment, 64.2 percent had been unemployed for less than three months.
The number of inactive unemployed persons fell by 1.2 percent to 106,500. The unemployment rate among youths aged 15 to 24 decreased by 0.1 percent to 10.1 percent, and among those aged 15 to 30, it dropped by 0.1 percent to 6.3 percent. Those outside the labour force decreased marginally by 0.1 percent to 7.11 million, with housework and family responsibilities being the primary reasons.
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