• Unemployment rate dropped to 4.8% in February

• The number of unemployed persons dropped by 5.0k to 777.5k in February

• Total labor force changed with additional 28.4k persons to 16.05 million

• Labor force participation rate unchanged at 68.5%

• Labor market to improve gradually

Employed persons continued to increase marginally 0.2% mom or 33.3k persons to 15.27m persons in February 2021 for the third straight month. However, year-on year comparison, the indicator continued with a downward trend for eleventh consecutive months whereby the number of employed persons declined 0.5% during the month.

The employment-to-population ratio which indicates the ability of an economy to create employment unchanged at 65.2%. Year-on-year, the employment-to-population ratio dropped by 1.8 percentage points from 66.4%. The unemployment rate dropped to 4.8% in February as compared to the previous month. The number of unemployed persons declined by 0.6% or 5.0k persons to register 777.5k unemployed persons. The unemployment rate for February was higher by 1.5 ppt year-on-year, with the number of unemployed persons registering an additional of 252.3k persons.

The labor force participation rate (LFPR) unchanged at 68.5%. Meanwhile, the number of labor force changed over the month with an additional of 28.4k persons to record 16.05m persons. Year-on-year comparison, the number of labor force improved by 178.4k persons (Feb’20: 15.9m persons). In the meantime, when compared to the same month of the preceding year, the LFPR edged down by 0.2 ppt (Feb’20: 68.7%).

Source: BIMB Securities Research - 8 Apr 2021