The unemployment rate in Malaysia stood at 3.2% in November 2024, down 0.1% on a year-on-year basis, according to research by Statistics Malaysia.

When compared to October 2024, the unemployment rate was unchanged.  The number of unemployed persons in November 2024 decreased further, dropping by 0.9% to 546,700 persons (October 2024: 551,400 persons).

The number of employed persons in November 2024 continued to show consistent growth compared to October and rose by 0.2% (+29,500 persons), registering 16.75 million persons (October 2024: 16.72 million persons).

In November 2024, the employment-to-population ratio, which indicates the ability of an economy to create employment, edged up by 0.1% month-on-month to 68.3% (October 2024: 68.2%).

By economic sectors, the services sector continued to record a rise in the number of employed persons, largely in wholesale & retail trade; and transportation & storage; and information & communication activities. A similar trend in the number of employments was also observed in manufacturing, construction, mining & quarrying, and agriculture in November 2024.

In November 2024, the labour force continued its upward trend, increasing by 0.1% (+24,900 persons) to 17.29 million persons (October 2024: 17.27 million persons).

Meanwhile, the labour force participation rate (LFPR) stood at 70.5%, the same as in the preceding month and up 0.4% over the year.