Bimb Research Highlights

Author: kltrader   |   Latest post: Fri, 19 Feb 2021, 5:16 PM


Economics - Growth in labor market halt in November

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  • Unemployment rate edged up to 5-month high of 4.8% in November
  • The number of unemployed persons increased by 16.2k to 764.4k in November
  • Total labor force changed a little with additional 5.2k persons to 15.96 million
  • Labor force participation rate down slightly to 68.4%
  • Jobless rate expected to remain high until mid-2021

Employed persons dropped 0.1% mom or 11.0k persons to 15.20m persons in November 2020 after recording an upward trend for five consecutive months. Yearon-year comparison, the indicator continued with a decreasing trend for eight consecutive months whereby the number of employed persons declined 0.8% during the month. In line with this, the employment-to-population ratio which indicates the ability of an economy to create employment shrank by 0.2 percentage point to 65.1%. Year-on-year, the employment-to-population ratio dropped by 1.5 percentage points from 66.6%.

The unemployment rate increased slightly by 0.1 percentage point (ppt) to 4.8% in November as compared to the previous month. The number of unemployed persons rose by 2.2% or 16.2k persons to record 764.4k unemployed persons. The unemployment rate for November was higher by 1.6 ppt year-on-year, with the number of unemployed persons registering an additional of 250.5k persons.

The labour force participation rate (LFPR) dropped marginally by 0.1 ppt to 68.4%. However, the number of labour force changed little over the month with additional of 5.2k persons to record 15.96m persons. Year-on-year comparison, the number of labour force improved by 131.6k persons (Nov’19: 15.83m persons). In the meantime, the LFPR edged down by 0.4 ppt (Nov’19: 68.8%).

Source: BIMB Securities Research - 12 Jan 2021

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