Malaysia’s Department of Statistics (DOSM) released its August 2018 labour force statistics infographics earlier this month, showing a decrease in labour force participation and a steady unemployment rate as compared to previous months.
For the basis of the study, the country’s labour force comprises people aged 15 to 64 who are either employed or unemployed during the reference week.
Here is a quick look at the key statistics revealed in the infographic:
#1 Unemployment rate remains consistent
For the third month consecutively, Malaysia’s unemployment rate in August remained at 3.4%, accounting for 525,000 people, 1.2% people accounted for in the labour force as compared to 0.5% last month. The unemployment rate increased by 1.6% from that in August 2017.
#2 Labour force participation rate drops
Malaysia’s labour force participation rate in August 2018 was 68.4%, a 0.2% decrease from July 2018. As compared to last year, the rate increased by 0.6%, up from 67.8%.
Furthermore, there was an increase in the labour force itself this August by 2.6% from the same month last year, bringing up the number of people in the force to 15.42 million. The number of employed people also increased by 2.6%, to 14.90 million.
Here’s a more in-depth look at the statistics: