The number of employed persons in Malaysia remained on the increasing trend in the second quarter of 2023, albeit at a slower rate of 2.8% (1.1 million) compared to the 3.8% (1.4 million) growth in the first quarter.
The growth in employment was led by the professional and technical services sector, which grew by 4.2% (84,100). Other sectors that recorded significant growth in employment include:
- Manufacturing (up by 2.9%, 49,300)
- Construction (up by 2.8%, 42,100)
- Wholesale and retail trade (up by 2.7%, 39,600)
- Transportation and communication (up by 2.6%, 37,100)
The continued growth in employment is a positive sign for the Malaysian economy. It suggests that the economy is recovering from the pandemic and that more people are finding jobs. However, there are still some challenges that need to be addressed, such as the high underemployment rate and the need to create more jobs in high-skilled sectors.
The government has taken steps to address these challenges, such as the introduction of the National Employment Insurance System (NEISS) and the Job Creation Programme (JPP). The NEISS is a social security scheme that will provide financial assistance to unemployed workers, while the JPP is a government-funded initiative to create jobs in the private sector.
