Malaysia – Unemployment rate steady at 3.4%

By memberservices@staffingindustry.com (Danny Romero)

The seasonally-adjusted unemployment rate in Malaysia remained at 3.4%, steady compared to the previous year according to figures from the Department of Statistics Malaysia.

The country’s labour force participation rate in May 2017 increased 0.1% to 67.8% compared to the previous year. The labour force participation rate refers to those who, during the reference week, are in the 15 to 64 years and who are either employed or unemployed.

Malaysia’s government recently announced that it was confident that it could reach its target of a 35% skilled workforce by 2020. The HR Ministry also announced that a new data warehouse project will store data on the workforce and will help ensure that the country’s unemployment rate will not reach 4%.

Source:: Malaysia – Unemployment rate steady at 3.4%