Kuala Lumpur (VNA) – Malaysia experienced its lowest unemployment rate in 11 years last November, reaching 2.9%, with the number of unemployed people declining to 518,400, according to the country’s Statistics Department.
The last time the unemployment rate dropped below 3% was in November 2014. Chief statistician Mohd Uzir Mahidin said that favourable economic conditions in November continued to support steady growth in the labour market.
The total number of employed persons increased by 0.2% to 17.09 million from 17.06 million in last October, while the number of categorised employees rose by 0.1% to 12.78 million, compared with 12.76 million in October.
Mohd Uzir said Malaysia's labour market is expected to remain stable and continue to grow positively in the coming months, supported by emerging job opportunities in strategic sectors, ongoing reskilling and upskilling initiatives and more balanced employment growth between urban and rural areas. Key growth areas included human health, social work, wholesale and retail trade, and accommodation and food services. Growth was also recorded in agriculture, manufacturing, construction, and mining and quarrying./.
Malaysia poised for stronger economic growth in 2026
UOB projected Malaysia's real GDP growth at 4.5% in 2026, at the upper end of the government's 4-4.5 % target.
