The unemployment rate in Malaysia increased to 3.9 percent in March 2020, from 3.4 percent in the corresponding month of the previous year. It was the highest jobless rate since March 2009, as the number of unemployed surged 17.1 percent from a year earlier to 610.5 thousand, while employment rose 1.3 percent to 15.23 million. Also, the labor force grew 1.8 percent to 15.84 million. On a seasonally adjusted basis, the jobless rate went up to 3.9 percent in March from 3.3 percent in February.
Unemployment Rate in Malaysia averaged 3.29 percent from 1998 until 2020, reaching an all time high of 4.50 percent in March of 1999 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 May of 2020. source: Department of Statistics, Malaysia
Unemployment Rate in Malaysia is expected to be 3.70 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 4.50 in 12 months time. In the long-term, the Malaysia Unemployment Rate is projected to trend around 4.40 percent in 2021 and 4.00 percent in 2022, according to our econometric models.