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Malaysia’s unemployment rate up 0.1%

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The country’s unemployment rate as at November 2013 was 3.4%, up 0.1% from October. This equates to an increase of 22,300 unemployed, bringing the total number to 484,600 persons, reported the Department of Statistics.

According to the department, there are currently 13.68 million employed persons in the country.

Year-on-year comparisons showed the unemployment rate increased by 0.5% from 2.9% in November 2012. The seasonally adjusted unemployment rate was estimated at 3.5%, remaining unchanged from the previous month.

Overall, the labour force participation rate remained unchanged at 69.1% from October to November 2013, even with 1,800 persons opting out of the labour force for that period, to stand at 14.16 million.

This represents a 4% increase in labour force participation rate from 65.1% in November 2012.

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