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01:37
Malaysia's unemployment rate stands at 3.5 pct in May
STORY: Malaysia's unemployment rate stands at 3.5 pct in May
DATELINE: July 12, 2023
LENGTH: 00:01:37
LOCATION: Kuala Lumpur
CATEGORY: SOCIETY
SHOTLIST:
1. various of Malaysia's national flag and Kuala Lumpur city landscape
2. various of Kuala Lumpur City Center street views
3. various of crowds on the street
STORYLINE:
Malaysia saw its number of unemployed people decline further to 584,600 in May from 586,900 in April, recording an unemployment rate of 3.5 percent, official data showed Monday.
The Department of Statistics Malaysia (DOSM) said in a statement that the labor market is seen to continue a momentum of steady growth.
According to the DOSM, the number of employed persons in May increased steadily, up 0.2 percent month on month to reach 16.28 million, with the labor force continuing an upward trend.
The labor force participation rate remained at 70 percent in May as in the previous month in the Southeast Asian country.
The DOSM said it believed the labor market would face difficulties as the Malaysian economy is expected to face challenges due to the uncertain global economic situation, expecting the labor force to grow at a modest pace in the coming months.
Xinhua News Agency correspondents reporting from Kuala Lumpur.
(XHTV)
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