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Unemployment numbers in Malaysia continued to decline in July 2022

Unemployment numbers in Malaysia continued to decline in July 2022

 

A total of 620,700 people were unemployed in the month, a 1.6% decrease from June 2022 (630,600).

Unemployment in Malaysia continued on a downward trend in July 2022, recording a 1.6% decrease from the previous month. A total of 620,700 people were unemployed in the month (June 2022: 630,600), data by the Department of Statistics Malaysia (DOSM) revealed

In the meantime, the number of unemployed persons dropped by 0.4% in seasonally adjusted terms. Accordingly, a lower unemployment rate was recorded during the month (3.7%), a 0.1 percentage-point (pp) decrease month-on-month (June: 3.8%); while the seasonally adjusted estimates for the unemployment rate remained at 3.6%.

Employment figures in July 2022

On the employment front, Malaysia continued to record a positive growth (+0.3%) in the number of employed persons in July, with 42,100 more persons employed in the month — recording a total of 15,98mn employed persons, up from 15.94mn recorded in June.

However, based on seasonally adjusted data, the number of employed persons in July declined by 0.2%.

DOSM further noted that the nation's employment-to-population ratio, which indicates an economy's ability to create employment, increased by 0.1pp to record 67% in the month of July. 

Tackling the data by economic sector, the services sector continued to see a growth in employment, led by numbers in food & beverage services, wholesale & retail trade, and administrative & support services.

Likewise, an increase in employment was also observed in manufacturing and construction, while a decline was observed in agriculture and mining & quarrying. 

By status in employment, the data and month-on-month growth/decline are as follows:

  • employees: 76% (+0.2%)
  • own-account workers: 17.5% (+0.8%)
  • employers: 3.4% (+0.5%)
  • unpaid family workers: 3.1% (-0.2%)

Labour force figures in July 2022

Additional data by the Department showed that in terms of the labour force, Malaysia recorded a 0.2% increase in the number of persons from June to July — equivalent to 32,300 more persons in the labour force (July: 16,6mn; June: 16.57mn).

As a result, a slight increase was observed in the labour force participation rate (LFPR) (+0.1pp), standing at 69.6%.

While the above is so, the seasonally adjusted estimates revealed a drop in labour force numbers (-0.1pp), further recording a 0.1pp decline in the LFPR.


Lead image / DOSM

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