- Analytics
- News and Tools
- Market News
- Malaysia: Further improvement in the labour market in December – UOB
Malaysia: Further improvement in the labour market in December – UOB
UOB Group’s Senior Economist Julia Goh and Economist Loke Siew Ting review the latest labour market results in the Malaysian economy.
Key Takeaways
“Malaysia’s labour market conditions continued to improve for five months in a row in Dec 2021, with the unemployment rate inching lower to a 21-month low of 4.2% (from 4.3% in Nov), matching our year-end estimate. Both the labour force participation rate and hiring also breached a new record high at 69.0% (Nov: 68.9%) and 15.65m (Nov: 15.61m) respectively.”
“The record high employment was thanks to higher employment in services, manufacturing, and construction sectors. This fully cushioned the contractions in agriculture, and mining & quarrying sectors since Aug 2020.”
“We reiterate our view that Malaysia’s labour market recovery remains on track. However, the momentum of gains may soften in 2022. Our channel checks suggest ongoing challenges posed by the pandemic to businesses particularly related to rising costs amid a cautious outlook. Rising vaccination rates (including booster doses) and ongoing government policy support are key to underpin the labour market recovery. We maintain our end-2022 jobless rate forecast at 3.6%.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
