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Malaysia Unemployment Rate Drops to 2.9 Percent
(MENAFN) Malaysia's unemployment rate declined to 2.9 percent in the first quarter of 2026, with both employment figures and labor force participation posting steady gains, government data revealed Tuesday.
The total number of out-of-work Malaysians dropped 0.4 percent to 506,500, nudging the jobless rate 0.1 percentage point lower compared to the 3 percent recorded in the preceding quarter, according to the Department of Statistics Malaysia.
The country's labor force grew 0.3 percent to reach 17.23 million, while total employed persons climbed by the same margin to 16.73 million — signals of a jobs market sustaining its footing amid a shifting global backdrop.
The labor force participation rate held flat at 70.9 percent, matching the prior quarter's reading without deviation.
Looking ahead, the Department of Statistics Malaysia projected that domestic labor conditions would remain broadly stable, underpinned by resilient economic fundamentals and continued structural reform efforts.
Still, officials struck a cautious note, warning that growth could lose momentum and face heightened exposure to external risks — among them, volatility in global energy markets and escalating geopolitical tensions.
"As such, both businesses and the workforce will need to remain agile in navigating a more dynamic and uncertain economic environment," it added.
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