Posted by Malaysia’s average employment rate is expected to further incline 2024.
Malaysia has seen a stable incline of 0.2% in the number of employment in May 2023 with a rise of 0.2% which is equivalent to 28,100 persons. The number of employed persons came to a total of 16.28 million when compared to 16.25 million in April 2023. On a year-on-year basis, the number of employed persons showed an upward trend with an increase of 2.4% as compared to 15.90 million people in May 2022.
The services sector continued to register positive growth specifically:
- F&B services
- Wholesale & Retail trade
- Information & Communication activities
- Manufacturing, Construction, Mining & Quarrying
- Agriculture sectors
Employment-to-population ratio (EPR) is an economic indicator that measures the proportion of a country’s working-age population that is employed. It is usually expressed as a percentage to provide information on the labour market’s overall strength and the level of employment in a country.
Employed Persons & Employment-to-population Ratio
For May 2023, the employment-to-population ratio rose by 0.1% totaling up to 67.6% when compared to April 2023 which was 67.5%. The ratio for May 2023 has increased by 0.8% when compared to May 2022 totalled 66.8%.
Out of the total employed people listed, the largest composition was the employees’ category with a staggering 75.5%. This category has seen a rise of 0.1% to 12.29 million people in May 2023 as compared to April 2023.
Employed Person by Status in Employment
In May 2023, the number of employed people who were temporarily not working reduced by 5.3% which is 4,600 people. Therefore, the number of persons from April 2023 decreased tremendously was 86,500 people to 81,900 people. Also, own-account workers are usually daily income earners working in small businesses such as hawkers and stall sellers also seen an upward trend of 0.5% with an addition of 14000 persons to 2.94 million persons.
On a year-on-year basis, this category itself has decreased by 12.9% from 94,100 persons recorded in May 2022. These people are not considered as unemployed as they have work to return to eventually.