PUTRAJAYA, Nov 24 — The number of the labour force increased by 2.3 per cent year-on-year to record 16.82 million persons in the third quarter (Q3) of this year, according to the Labour Market Review Q3 2023 released by the Department of Statistics Malaysia (DOSM) today.
Chief Statistician Datuk Seri Mohd Uzir Mahidin said the labour force participation rate rose 0.7 percentage points year-on-year to 70.1 per cent in the same quarter, in line with the economic growth, which expanded by 3.3 per cent in Q3 2023.
In a statement today, he said the unemployment rate decreased by 6.3 per cent to 573,100 persons, resulting in the national rate at 3.4 per cent, observing a gradual return to pre-pandemic level.
Jobs in the economic sector strengthened by 2.6 per cent year-on-year to record a total of 8.90 million jobs.
“Filled positions which comprised 97.9 per cent of the total jobs and grew 2.7 per cent to 8.71 million, while job openings indicated by the number of vacancies comprised another 2.1 per cent of jobs, declined slightly by 0.2 per cent to 190,900 vacancies,” Uzir said.
Over half of the job vacancies in Q3 2023 were in the manufacturing sector, which accounted for 107,900 vacancies, largely in the electrical, electronic, and optical products sub-sector, which recorded 33,800 vacancies.
“The labour market has exhibited a favourable outlook during Q3 2023, which is noteworthy amid global economic uncertainties,” he said.
— Bernama
