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Malaysia’s unemployment rate rises to highest level since 1993

Malaysia’s unemployment rate increased to 4.5 percent in 2020, the highest rate since 1993 when it was recorded at 4.1 percent, according to the Department of Statistics Malaysia (DoSM).
Malaysia’s unemployment rate rises to highest level since 1993 ảnh 1Malaysia’s unemployment rate increased to 4.5 percent in 2020 (Photo: malaymail.com)
Kuala Lumpur (VNA) – Malaysia’s unemployment rate increased to 4.5percent in 2020, the highest rate since 1993 when it was recorded at 4.1 percent,according to the Department of Statistics Malaysia (DoSM).

Chief statistician Mohd Uzir Mahidin said an additional 772,900people were unemployed in December 2020, up 4.8 percent month-on-month, whilethe number of employed persons edged up only 0.1 percent month-on-month, equivalentto 19,300 persons, to 15.22 million persons.

The labour force participation rate (LFPR) in 2020 remainedat 68.4 percent, down 0.3 percentage point year-on-year.

Mohd Uzir said the country experienced a slower labourdemand in 2020 due to adverse impacts of the COVID-19 pandemic and the healthcrisis had given a huge impact on the labour force which led the unemploymentrate to reach above 4 percent against an average of 3 percent recorded inthe pre-crisis period.

Malaysia’s labour market will remain in a challengingsituation in early 2021 but various assistance and initiatives introduced bythe government will cushion the impact of the pandemic on the labour market, headded./.
VNA
#COVID-19 #Malaysia #unemployment rate #highest rate #2020 #1993 #Department of Statistics Malaysia #Mohd Uzir Mahidin #Vietnam #Vietnamplus #Vietnam News Agency Malaysia
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