Overview

• Malaysia's labour market strengthened with 17.34 million persons in the labour force and labour productivity reached RM25,647 per employment in the fourth quarter of 2024.

• In the fourth quarter of 2024, Malaysia’s labour force grew by 0.4 per cent to 17.34 million persons, reflecting positive labour market growth. The Labour Force Participation Rate (LFPR) rose to 70.6 per cent, driven by an increase in employed persons to 16.79 million persons.

• The unemployment rate remained stable at 3.2 per cent, with the number of unemployed persons slightly decreasing to 546.9 thousand persons. Additionally, the number of persons who are working less than 30 hours per week dropped by 2.5 per cent, while time-related underemployment declined by 3.6 per cent.

• In terms of labour demand, total job positions increased by 1.3 per cent to 9.05 million, with the job-filling rate remaining at 97.9 per cent. The job vacancy rate stayed stable at 2.1 per cent, with a slight increase in vacancies to 193.6 thousand.

• Labour productivity rose by 1.4 per cent to RM44.2 per hour worked, in line with economic growth of 5.0 per cent. Over the year, productivity per hour worked increased by 2.1 per cent, while productivity per employee grew by 2.4 per cent to RM99,137 per employment.

• Heading into 2025, Malaysia’s labour market outlook remains positive with stable job growth. Key sectors such as Manufacturing, particularly in electrical and electronics, as well as Services, are expected to continue driving job creation.

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