On 15 January 2019, Malaysia's Department of Statistics (DoSM) released its key labour force statistics for November 2018.
The statistics highlighted the following key points for HR leaders to note:
#1 Labour force participation rate dips slightlyLabour force participation rate for November 2018 stood at 68.4% - a 0.1 percentage point (pp) drop as compared to the previous month. However, the rate increased by 0.5pp year-on-year. Further, the population making up the labour force increased by 2.5% - from 15.08 million in November 2017 to 15.46 million in November 2018.
#2 Unemployment rate remains steadyThe rate of unemployment in November 2018 remained at 3.3%, on the same level as in October 2018 and November the previous year. This represents a total of 516,200 unemployed people, a 0.6% month-on-month increase and 2.2% increase from November 2017. During the same period, the number of employed people also increased 2.5% to 14.94 million.
Further details are as follows:In total, 31.6% of the working age population (aged 15 to 64), or 7.15 million people, were outside the labour force. These included students, housewives, retirees and those not interested to work.
View the full infographic here
Lead image / 123RF
Infographic / DoSM