The unemployment rate in Malaysia declined to 3.9 percent in April 2022 from 4.6 percent in the same month a year earlier, as the economy recovered from the coronavirus disruptions. The latest reading dipped below 4% for the first time since the COVID-19 outbreak began in early 2020. The number of unemployed dropped 12.6 percent from a year earlier to 649.3 thousand, while employment increased 3.3 percent to 15.85 million. Meantime, the labor force rose 2.5 percent to 16.50 million. In March 2022, the jobless rate was at 4.1 percent. source: Department of Statistics, Malaysia
Unemployment Rate in Malaysia averaged 3.45 percent from 1998 until 2022, reaching an all time high of 5.30 percent in May of 2020 and a record low of 2.70 percent in August of 2012. This page provides - Malaysia Unemployment Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Malaysia Unemployment Rate - data, historical chart, forecasts and calendar of releases - was last updated on June of 2022.
Unemployment Rate in Malaysia is expected to be 4.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Malaysia Unemployment Rate is projected to trend around 3.60 percent in 2023 and 3.40 percent in 2024, according to our econometric models.