The unemployment rate was unchanged at 4.8% in December (Nov: 4.8%), reflecting the impact of the COVID-19 pandemic
Unemployed persons (1.1% MoM; Nov: 2.2%): increase moderately, bringing the total number of unemployed persons increased to 772.9k (Nov: 764.4k).
Employment growth (0.1% MoM; Nov: -0.1%) rebounded, whilst labour force growth expanded (0.2% MoM; Nov: 0.0%)
Labour force: increased and reaching a new record high (15.988m persons; Nov: 15.960m).
New job creation: rebounded to a three-month high (19.3k; Nov: -11.0k).
Labour force participation rate unchanged (68.4%; Nov: 68.4%)
Growth of the number of people outside of the labour force muted (0.0%; Nov: 0.4%) mainly due to schooling and training.
Unemployment rate remained elevated globally
US: unemployment rate eased in January (6.3%; Dec: 6.7%), mainly because more people dropped out of the labour force and increased in the number of employments.
JP: unemployment rate was unchanged in December (2.9%; Nov: 2.9%) with 2020 reached 2.8% (2019: 2.4%).
Unemployment rate to remain elevated in the near term before it gradually eases to 4.0% in 2021 (2020: 4.5%)
The labour market will continue to grapple with rising local COVID-19 cases and the impact of Movement Control Order 2.0 in most states since 13 January.
Nonetheless, we forecast the unemployment rate to ease to 4.0% (MoF: 3.5%) this year given the likelihood of a wider rollout of COVID-19 vaccines and a potential recovery of the manufacturing sector, in line with a projected rebound in 2021 GDP growth (3.9%; 2020F: -5.3%).
Be the first to like this. Showing 0 of 0 comments
Post a Comment
People who like this
Featured Posts
MQ Trader
Introducing MY's First IPO Fund for Sophisticated Investors!
MQ Chat
New Update. Discover investment communities that resonate with your ideas
MQ Trader
M & A Value Partners IPO Equity Fund has been launched - Targeted 13% Return p.a
Latest Videos
0:17
New IPO: The onshore and offshore support services provider for the O&G industry, Steel Hawk Bhd aims to list on the Ace Market!
MQ Trader 5203 views | 5 d ago
0:17
New IPO: The largest mini-market player and a leading groceries retailer in Malaysia, 99 Speed Mart Retail Holdings Bhd aims to list on the Main Market!
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....