Unemployment in Malaysia has decreased to 3.1 percent as of Dec 2024.
According to the Statistics Department, this is the lowest unemployment rate since May 2015, when it was also at 3.1 percent.
However, the unemployment rate in Sabah remains high.
According to statistics released today, the number of unemployed people nationally dropped from 546,700 in Nov 2024, to 544,300 in December.
The national unemployment rate has been hovering around 3.2 percent since August last year.
Selangor, Kedah have lowest unemployment
Selangor and Kedah had the lowest unemployment rates, at 1.7 percent each in the fourth quarter of 2024, followed by Malacca at 1.8 percent.
Johor, Penang, Negeri Sembilan, and Perlis had unemployment rates below 2.5 percent.
Rates in Kuala Lumpur, Putrajaya, Sarawak, Perak, and Terengganu were at 3.5 percent or lower, while Kelantan was at 3.8 percent.
However, Sabah and Labuan bucked the trend of low unemployment at 7.7 percent and 5.5 percent respectively.
According to Statistics Department data, joblessness in Sabah is at the same level as the third quarter of 2024 but is lower than in the first quarter, which was 8 percent.
The data indicates that unemployment in Sabah has not dipped below 7 percent since the Covid-19 pandemic struck in early 2020.
‘Low unemployment reflects resilience’
In a statement today, Chief Statistician Uzir Mahidin said that the new unemployment figures for the nation reflect the resilience of the economy.
“Towards the end of 2024, the Malaysian economy is showing resilience and strong growth. Thus, the labour market is also performing well,” he said.
He said that sustained labour demand throughout last year had contributed to the positive employment rate, and is expected to continue this year.
“Key sectors such as manufacturing, particularly electrical and electronics, and services will propel job creation,” Uzir said. - Mkini
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