Malaysia's unemployment rate drops to lowest since April 2020

Malaysia's unemployment rate drops to the lowest since April 2020. - Illustrative image (Photo: https://www.theedgemarkets.com/)

Hanoi (VNA) - Malaysia's unemployment rate decreased to 4.3 percent in October, the lowest rate since April 2020, according to the Department of Statistics Malaysia (DOSM).

DOSM said in a statement that the continuous resumption of more economic and social and recreation activities led the labour force situation to remain stable in October.

This was reflected by the higher number of employment during the month while unemployment was on a declining trend, it said.

According to the agency, the upward trend of employed persons persisted during October by registering an addition of 0.6 percent month-on-month to 15.55 million persons, with the employment-to-population ratio going up by 0.3 percentage points to record 65.8 percent. Meanwhile, the number of unemployed persons continued to fall 3.4 percent to 705,000 from 729,600 in September.

Although the number of unemployed persons was on a declining trend, it remained relatively higher than the pre-pandemic period, DOSM said./.

VNA