Unemployment Rate Stays At 3.3% In February – DOSM
Recent numbers released by the Department of Statistics Malaysia (DOSM) have shown that Malaysia’s labour force is currently at a stable level, which is in line with the economic development of the country.
According to statistics released by the Department of Statistics Malaysia (DOSM), Malaysia’s unemployment rate for February stayed at 3.3%, and DOSM also registered a lower number of unemployed individuals at 567,000 persons.
DOSM’s Chief Statistician, Datuk Seri Dr Mohd Uzir Mahidin also stated that the number of workers during the month continued to record a month-on-month increase, with an addition of 0.1% to 17.07 million persons compared to 17.05 million people in January 2024.
Along with that, Mohd Uzir also added that the number of employed persons also continued to show an increase, with it growing 0.2% to 16.51 million persons compared to the 16.48% recorded in January.
Services sector continues to impress
When taking into account the economic sector, the Services sector continued to register an increase of workers, especially in three sectors; wholesale and retail trade, food and beverage services, and transportation and storage activities.
In a report from The Star, Mohd Uzir also stated that thanks to Malaysia’s currently stable economic situation, most of the economic sectors are expected to see an expansion in 2024, with the services and manufacturing sector set to be key drivers to the economic growth.
The festive season is also playing its part in strengthening the labour force, as Mohd Uzir stated that robust domestic demand driven by resilient household spending for the festive season is also expected to support hiring activities.
