The unemployment rate edged up to 4.9% in January (Dec: 4.8%), a seven-month high weighed mainly by the impact ofreenforcement of Movement Control Order (MCO 2.0)
Unemployed persons (1.2% MoM; Dec: 1.1%): expanded marginally, bringing the total number of unemployed persons to 782.5k (Dec: 772.9k), an eight-month high.
Employment growth edged up 0.1% MoM (Dec: 0.1%) onnascentrecoveryinthe services, manufacturing and construction sector
Labour force: increased and reached a new record high (16.019m persons; Dec: 15.988m).
New job creation: expanded to a four-month high (21.9k; Dec: 19.3k).
Labour force participation rate edged up (68.5%; Dec: 68.4%)
Growth of the number of people outside of the labour force fell marginally (-0.1% MoM; Dec: 0.0%)
Unemployment rate eased in the advanced economies
US: unemployment rate edged lower in February (6.2%; Jan: 6.3%), as economic activity picked up amid dropping COVID-19 cases and progress of vaccine rollout.
JP: unemployment rate reduced to 2.9% in January from a revised 3.0% in the preceding month underpinned by a recovery in the healthcare and retail sector.
Unemployment rate forecast retain (4.0%; 2020: 4.5%) on the expectation of gradual economic recovery
The labour market is expected to face a bumpy road in the near term due to the impact of MCO 2.0 and prolonged interstate travel banned.
However, the progress of the vaccination campaign, expansion in the manufacturing sector, and the impact of fiscal stimulus are expected to support the domestic labour market going forward.
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 5202 views | 5 d ago
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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!
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