The unemployment rate in Malaysia jumped to 4.7 percent in August 2020 from 3.3 percent in the corresponding month of the previous year, amid the severe impact caused by the COVID-19 pandemic. The number of unemployed surged 42.6 percent from a year earlier to 741.6 thousand, while employment declined by 0.2 percent to 15.15 million. Meantime, the labor force gained 1.2 percent to 15.90 million. In July 2020, the jobless rate was also at 4.7 percent.
Unemployment Rate in Malaysia averaged 3.33 percent from 1998 until 2020, 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 October of 2020. source: Department of Statistics, Malaysia
Unemployment Rate in Malaysia is expected to be 4.50 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 4.10 in 12 months time. In the long-term, the Malaysia Unemployment Rate is projected to trend around 4.00 percent in 2021, according to our econometric models.