The unemployment rate in Malaysia increased to 4.7 percent in July 2020 from 3.3 percent in the corresponding month of the previous year. The number of unemployed surged 42 percent from a year earlier to 745.1 thousand, while employment declined 0.7 percent to 15.07 million. Meantime, the labor force went up 0.7 percent to 15.82 million.
Unemployment Rate in Malaysia averaged 3.32 percent from 1998 until 2020, 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 September of 2020. source: Department of Statistics, Malaysia
Unemployment Rate in Malaysia is expected to be 4.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Unemployment Rate in Malaysia to stand at 4.30 in 12 months time. In the long-term, the Malaysia Unemployment Rate is projected to trend around 4.00 percent in 2021, according to our econometric models.