Unemployment ticks upward in October

 

Unemployment rose by 0.1 percent to 4.7 percent in October compared to the month before.

According to the Department of Statistics (DOSM), there were 748,200 unemployed persons in October.

The number of unemployed people in October was 1.5 percent higher than the same period last year.

Unemployment had hit 5.3 percent in May before tapering down to 4.6 percent in September.

The number of employed persons rose marginally (0.1 percent) to 15.21 million in October compared to the month before.

The seemingly contradictory numbers could be explained by an increase in labour force participation of 0.2 percent compared to the previous month.

The DOSM said employment in the construction sector posted an increase while the agriculture, manufacturing and mining, and quarrying sectors registered a decline.

The number of people who were temporarily not working, said the DOSM, was estimated at 183,600 persons in October, up from 100,700 in September.

Based on Social Security Organisation (Socso) data, the DOSM said 7,416 had reported for loss of employment in October, down from 7,388 in September.

The DOSM expects higher demand for jobs in December due to the discontinuation of the conditional movement control order (MCO) in most states. - Mkini