Unemployment in Malaysia

Malaysia Unemployment | Economic News & Forecasts

Malaysia - Unemployment

Following Q2’s record fall in GDP, activity contracted at a much softer pace in Q3 as Covid-19 restrictions were eased in early June. Exports shrank at a milder pace thanks to increased foreign demand, mainly for electronics, while domestic demand contracted less steeply, with consumer and capital spending both falling at a softer rate. Turning to Q4, incoming data suggests that the recovery might be losing steam. The manufacturing PMI slid further into contractionary territory in October, reflecting moderating growth in new orders and output. This, coupled with the reinstatement of targeted lockdowns in October, bodes ill for private activity. Lastly, on 6 November, the government presented its draft 2021 budget of MYR 322.5 billion (about USD 78 billion)—the largest in the country’s history—based on a 6.5%–7.5% GDP growth rate and a lower fiscal deficit of 5.4% of GDP.

Malaysia - Unemployment Data

2015   2016   2017   2018   2019  
Unemployment Rate3.1  3.5  3.3  3.3  3.3  

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Malaysia Unemployment Chart

Malaysia Unemployment
Note: Unemployment in % of active population.
Source: Department of Statistics Malaysia.

Malaysia Facts

Value Change Date
Bond Yield3.320.15 %Dec 31
Exchange Rate4.090.0 %Jan 01

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