Malaysia witnesses a 2.5% rise in labour market in Q1 2023

The Malaysian labour market has seen a 2.5% expansion in Q1 2023, as reported by the Labour Market Review by the Department of Statistics Malaysia (DOSM).

The increase translates to 16.65 million persons in the workforce compared to 16.25 million in the same period last year.

According to Chief Statistician Mohd Uzir Mahidin, the surge was a result of strong domestic demand that fostered a favourable industrial environment.

This led to an increase in production and consequently, higher labour demand.

Moreover, the unemployment rate declined by 12.6% to 586,900, marking the lowest unemployment rate since the Covid-19 outbreak at 3.5%.

Uzir expressed optimism for the future, predicting a positive labour market outlook.

This performance, he stated, establishes a solid foundation for sustained consumer spending and economic development.

Jobs in the private sector also increased by 2.7%, indicating improved labour demand.

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Chief of Staff Asia