Malaysia unemployment rate remains at 3 1/2-year low
The rate of unemployment in Malaysia has decreased to 3.2% in October from 3.4% in the same month a year earlier, the latest data by the Department of Statistics showed.It still remained the lowest jo
The rate of unemployment in Malaysia has decreased to 3.2% in October from 3.4% in the same month a year earlier, the latest data by the Department of Statistics showed.
It still remained the lowest jobless rate since January 2020, while matching the rates in August and September.
The number of unemployed persons dropped 3.4% year-on-year to a 56-month low of 551,400 in October.
At the same time, employment rose 1.9% YoY to a new peak of 16.72 million people, the data showed.
Malaysia’s Ringgit was 0.11% weaker on the day against the US Dollar, with the USD/MYR currency pair last trading at 4.4220.
Malaysia’s Ringgit was trading not far from a three-week high of 4.4160 per dollar, which it registered last Thursday.
Investor focus now sets on the key US CPI inflation report on Wednesday that may provide further clues over the Fed’s interest rate cut trajectory.
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