The unemployment rate in Malaysia declined to 4.5 percent in May 2021 from 5.3 percent in the same month a year earlier, as most states were in Recovery Movement Control Order (MCO) following a ramped up in COVID-19 vaccinations. It was the lowest jobless rate since March last year, with the number of unemployed plunging 11.9 percent from a year earlier to 728.1 thousand, while employment rising 3.2 percent to 15.37 million. Meantime, the labor force increased 2.4 percent to 16.10 million. In April 2021, the jobless rate was at 4.6 percent. source: Department of Statistics, Malaysia
Unemployment Rate in Malaysia averaged 3.40 percent from 1998 until 2021, reaching an all time high of 5.30 percent in May of 2020 and a record low of 2.70 percent in August of 2012. This page provides - Malaysia Unemployment Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Malaysia Unemployment Rate - data, historical chart, forecasts and calendar of releases - was last updated on July of 2021.
Unemployment Rate in Malaysia is expected to be 4.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Unemployment Rate in Malaysia to stand at 4.00 in 12 months time. In the long-term, the Malaysia Unemployment Rate is projected to trend around 3.50 percent in 2022, according to our econometric models.