Malaysia Unemployment Rate

The unemployment rate in Malaysia ticked lower to 3.3% in July 2024 from 3.4% in the same month of the previous year, holding steady for the ninth consecutive month. The number of unemployed decreased by 2.7% year-on-year to a near 4-1/2-year-low of 563.7 thousand people, while employment increased by 1.8% to another record high of 16.63 million. In the meantime, the labor force participation rate rose to 70.4% in July from 70.1% in the same month a year earlier. In June 2024, the unemployment rate also stood at 3.3%.