The unemployment rate in Malaysia surged to 4.7 percent in March 2021 from 3.9 percent in the same month a year earlier, amid the severe impact caused by the COVID-19 pandemic. The number of unemployed rose 23.4 percent from a year earlier to 753.2 thousand, while employment edged up by 0.6 percent to 15.33 million. Meantime, the labor force increased 1.5 percent to 16.08 million. In February 2021, the jobless rate was at 4.8 percent. source: Department of Statistics, Malaysia
Unemployment Rate in Malaysia averaged 3.38 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 May of 2021.
Unemployment Rate in Malaysia is expected to be 4.70 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.