Malaysia: Labour market remains strong – UOB – by pabspiovano Malaysia Employment Banks
UOB Group’s Senior Economist Julia Goh and Economist Loke Siew Ting review the recently published labour market report in Malaysia.“Malaysia’s labour market recovery gained further traction in Jul with both employment and the size of labour force breaching new record levels. This helped bring the nationallower for 12 months in a row to 3.7% in Jul , moving closer to the pre-pandemic jobless rate of 3.3%.
“Despite lingering headwinds on the horizon, we think that the country’s transition to endemicity with a full reopening of economic and social activities as well as borders would continue to drive the labour market recovery for the rest of the year and into 2023. The government is also expected to unveil some positive measures to boost investment and employment in the coming Budget 2023 on 7 Oct. We tweak our year-end unemployment rate projections lower to 3.5% for this year and 3.2% for 2023 .
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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