Malaysia’s unemployment rate rises to highest level since 1993
Malaysia’s unemployment rate increased to 4.5 percent in 2020, the highest rate since 1993 when it was recorded at 4.1 percent, according to the Department of Statistics Malaysia (DoSM).
Malaysia’s unemployment rate increased to 4.5 percent in 2020 (Photo: malaymail.com)
Kuala Lumpur (VNA) – Malaysia’s unemployment rate increased to 4.5percent in 2020, the highest rate since 1993 when it was recorded at 4.1 percent,according to the Department of Statistics Malaysia (DoSM).
Chief statistician Mohd Uzir Mahidin said an additional 772,900people were unemployed in December 2020, up 4.8 percent month-on-month, whilethe number of employed persons edged up only 0.1 percent month-on-month, equivalentto 19,300 persons, to 15.22 million persons.
The labour force participation rate (LFPR) in 2020 remainedat 68.4 percent, down 0.3 percentage point year-on-year.
Mohd Uzir said the country experienced a slower labourdemand in 2020 due to adverse impacts of the COVID-19 pandemic and the healthcrisis had given a huge impact on the labour force which led the unemploymentrate to reach above 4 percent against an average of 3 percent recorded inthe pre-crisis period.
Malaysia’s labour market will remain in a challengingsituation in early 2021 but various assistance and initiatives introduced bythe government will cushion the impact of the pandemic on the labour market, headded./.
Malaysia re-applied the Movement Control Order (MCO) from January 13 to 26 in various locations as the Conditional Movement Control Order (CMCO) was no longer effective, said Noor Hisham, a high-ranking official of the Malaysian Ministry of Health.
Malaysia has announced that the entire country, with the exception of Sarawak, will come under the Movement Control Order (MCO) in a bid to contain the spread of COVID-19.
On February 8, Malaysia reported a daily record 24 deaths from COVID-19, raising total fatalities to 896, while Indonesia decided to close its borders to foreigners for two weeks amid the spread of the pandemic.
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Malaysia’s unemployment rate increased to 4.5 percent in 2020 (Photo: malaymail.com) 
