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Malaysia’s unemployment rate falls to 3.4pc in June

KUALA LUMPUR (XINHUA) – Malaysia’s unemployment rate edged down to 3.4 per cent in June from 3.5 per cent in the previous month, with unemployed people further reduced to 581,700 from 584,600, official data showed yesterday.

The Department of Statistics Malaysia (DOSM) said in a statement that Malaysia’s labour market remained stable in June, contributed by the continuous increase in the number of employed people. It said the unemployed people in the country were on a downward trend.

The number of the employed in June remained on a positive trend, with a month-on-month increase of 0.2 per cent to 16.31 million persons, according to the DOSM.

The number of the labour force in June strengthened further by 0.2 per cent to 16.89 million people.

Meanwhile, June’s labour force participation rate (LFPR) was unchanged at 70 per cent.

For the second quarter of 2023, the number of the labour force continued to post an increase, with a rise of 0.5 per cent to 16.73 million people as compared to the first quarter.

Accordingly, the LFPR rose by 0.2 percentage points quarter on quarter to 70 per cent.

The unemployment rate in the second quarter of 2023 remained at 3.5 per cent.

File photo shows a cruise ship at Penang Island, Malaysia. PHOTO: AP
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