Malaysia Unemployment Rate

The unemployment rate in Malaysia fell to 3.1% in December 2024 from 3.3% in the same month of the previous year, marking the lowest level since May 2015. The number of unemployed dropped by 4.1% year-on-year to a near five-month low of 544.3 thousand people, while employment rose by 1.9% to a new peak of 16.78 million. Meantime, the labor force participation rate increased to a record top of 70.6% in December from 70.2% in the corresponding month a year earlier.