Malaysia’s Unemployment Rate Drops to 3.1%, the Lowest Since 2015
Source: SAYS
Malaysia’s unemployment rate has reached its lowest level in nearly a decade, standing at 3.1% as of December 2024, equivalent to 544,000 unemployed individuals.
According to a report by Berita Harian, Malaysia’s Chief Statistician, Datuk Seri Dr Mohd Uzir Mahidin, stated that the nation’s economic resilience and strong growth were evident towards the end of 2024.
“As a result, the labor market has also shown positive performance, with the unemployment rate continuing to decline in December 2024.”
“Employment figures remain stable, and the number of unemployed individuals continues to decrease. In December 2024, the total labor force saw a 0.1% increase, reaching 17.32 million people, with a higher Labor Force Participation Rate (LFPR) of 70.6%, compared to 70.5% in November,” he added.
Positive Employment Trends in December 2024
Dr. Mohd Uzir also reported that the number of employed individuals continued to rise, reaching 16.78 million in December 2024, marking a 0.2% increase from the previous month.
Meanwhile, the number of unemployed individuals dropped by 0.4%, from 546,700 in November 2024 to 544,300 in December 2024.
“With the unemployment rate declining to 3.1%, Malaysia has recorded its lowest jobless rate in almost ten years.”
Despite global economic uncertainties, Malaysia’s positive economic trajectory continues to drive steady labor market growth and sustained employment recovery.
