Malaysia’s unemployed in July declined 0.3 percent to 563,700 persons from June, with unemployment rate remained unchanged at 3.3 per cent, official data showed Monday.
The Department of Statistics Malaysia (DOSM) said in a statement that Malaysia’s labor market remained stable, following the country’s growing economic position.
According to the DOSM, the number of labor force in July improved further by recording an increase of 0.1 per cent to 17.20 million persons from June.
Meanwhile, the labour force participation rate was unchanged at 70.4 per cent, Xinhua news agency reported.
The number of employed persons also continued to rise in July, growing 0.2 percent month on month to 16.63 million persons.
“Malaysia’s labor market position is foreseen to remain competitive and stable in the upcoming months in line with the country’s economic performance,” the DOSM said.
It noted that Malaysia’s economic landscape continues to expand, mainly supported by rising household spending, a continuing positive labor market and greater policy support, as well as the increase in exports of goods and higher tourist arrivals, and a strong expansion in investment activities.
“Encouraging developments in economic and business activities will lead to the creation of more job opportunities and incomes in the economy, which will encourage more labor participation in the market,” it added.