Malaysia: Jobless rate remained unchanged in March – UOB – by pabspiovano Malaysia Banks Employment
UOB Group’s Senior Economist Julia Goh and Economist Loke Siew Ting comment on the latest jobs report in Malaysia.“Malaysia’s labour market continued to post a gradual improvement in Mar, with both labour force and total employment expanding to hit an all-time high. The national unemployment rate also held steady at 3.5% in Mar. The same goes for labour force participation rate, which maintained at 69.9%.
“We maintain our 2023 year-end unemployment rate projection at 3.2% as the latest reading of labour market indicators and economic performance remain largely in line with our expectations. The government’s ongoing measures to create and retain jobs as well as initiatives to lure high value-added investment will sustain the improvement in the labour market in the near term, despite lingering global macro headwinds and financial uncertainty.
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