Overview

• In Malaysia, the country entered the transition phase to endemic starting on 1 April 2022. The reopening of Malaysia's international borders starting on that date, has accelerated the recovery in all economic sectors, especially tourism-related industries. Malaysia's economic performance peaked with GDP growth of 8.7 per cent in 2022, with value added amounting to RM1.5 trillion, surpassing the pre-pandemic value in 2019 of RM1.4 trillion. Subsequently, in 2023, Malaysia's economy grew moderately by 3.6 per cent, driven by the services and manufacturing sectors which contributed 82.6 per cent of total GDP. Growth in the economic sector has contributed to a strengthening labour market with the unemployment rate declining to 3.4 per cent and a steady upward trend of employment.

• In 2023, the number of salaries & wages recipients rose by 1.1 per cent to record 10.11 million persons (2022r: 10.0 million persons). In the meantime, the median monthly salaries & wages accelerated by 7.1 per cent to RM2,602 as compared to the previous year (2022r: RM2,429).

• Similarly, the mean monthly salaries & wages rebounded by 6.9 per cent to register RM3,441 as compared to RM3,219 in 2022r with a growth rate of 5.6 per cent. This increase reflects improved earning potential for a significant portion of the workforce .

• According to the findings of the survey, both male and female employees continued to register year-on-year increase in the median monthly salaries & wages. It was noted that male employees showed an increment of 7.1 per cent (RM 177) higher than females to record RM2,675 as against RM2,498 in the 2022r. Meanwhile, female rose by 6.9 per cent (RM159) to RM2,464 (2022r: RM2,305). 

• Correspondingly, the mean monthly salaries & wages for male employees in 2023 surged by 7.4 per cent or equivalent to RM244 to register RM3,532 (2022r: RM3,288). Likewise, female employees improved by 6.2 per cent or RM192 to RM3,311 as against RM3,119 in the 2022r.

The full publication of the Salaries & Wages Survey Report, 2023 can be downloaded from eStatistik portal.

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