Sun, 28 May 2023

KUALA LUMPUR, May 10 (Xinhua) -- Malaysia's unemployment rate remained at 4.1 percent in March as compared to February, official data showed Tuesday.

The number of unemployed persons during the month continued to decrease, reduced by 0.4 percent to 669,200 persons from 671,800 persons in February, the Department of Statistics Malaysia (DOSM) said in a statement.

Meanwhile, employed persons further increased in March, adding 0.2 percent to 15.77 million persons from 15.73 million persons in February.

The employment-to-population ratio, which indicates the ability of an economy to create employment, improved by 0.1 percentage point to 66.4 percent in March as against 66.3 percent in the preceding month.

According to the DOSM, the transition phase to endemic as well as the easing of more COVID-19 restrictions including the reopening of the country's borders are seen to have further stimulated the country's economy.

In addition, economic activities are observed to be recovering especially in the tourism industry, thus allowing more demand for labor to secure the operation of business activities running smoothly.

Meanwhile, it said the monthly external trade indicators for both exports and imports rebounded by registering a double-digit growth month-on-month in March.

"Therefore, overall the national economy as well as the labor market will expand further in the upcoming months as more positive signs of the economy are indicated," said the DOSM.

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