PUTRAJAYA: The number of unemployed persons in December dipped to 567,800 individuals (November 569,000 unemployed) with an unemployment rate of 3.3 per cent, according to the latest Labour Force statistics from the Department of Statistics Malaysia (DOSM).
Chief Statistician Datuk Seri Dr Mohd Uzir Mahidin stated that the December figures indicate the nation’s stable economic foundations, driven by a continuing growth in economic and social activities.
“The labour force in December kept increasing by 0.1 per cent month-on-month to 17.03 million persons from 17 million persons in November, recording a higher labour force participation rate (LFPR) of 70.2 per cent (November 2023: 70.1 per cent),” he said in a statement today.
The number of employed persons in December rose by 0.2 per cent to 16.46 million persons compared to 16.43 million persons in November, while the number of unemployed individuals dropped by 0.2 per cent to 567,800 persons.
On the situation of employment, Mohd Uzir said 75.2 per cent were in the employees’ category, marking a slight increase of 0.1 per cent to 12.38 million individuals.
“Similarly, the rising trend was also seen in the own-account workers category, which increased by 0.3 per cent to 3.0 million persons,” he said.
Employment in the services sector, notably in information and communication, food and beverage services, and transportation and storage activities continues to record a rise.
A similar trend was also observed in the manufacturing, construction, mining and quarrying, while the agriculture sector recorded a decline.
He also highlighted the unemployment rate for youth aged 15 to 24 years stood at 10.6 per cent, with 307,200 unemployed youths (November 2023: 308,500 persons).
“Meanwhile, the unemployment rate among youth aged 15 to 30 years dropped by 0.1 percentage points to 6.4 per cent, registering 432.1 thousand unemployed youths (November 2023: 6.5 per cent; 432,000 persons),” he added.
In terms of the unemployment rate and the LFPR by state, Putrajaya was reported as having the lowest unemployment rate at 1.5 per cent during the fourth quarter of 2023 across all states, followed by Perlis and Penang at 2.0 per cent.
Concluding the statement, in line with Malaysia’s healthier economic prospects in 2024, supported by increased foreign direct investment (FDI), growing tourism, and higher infrastructure spending, the country’s labour market may gain a positive impact. –Bernama