KUALA LUMPUR: Malaysia's labour demand continues to increase, with number of jobs growing by 1.2 per cent year-on -year to 9.01 million jobs in the third quarter (3Q) of 2024, the highest number of jobs recorded in six years, according to Department of Statistics Malaysia (DOSM).
Job numbers represent total labour, which includes filled jobs and vacancies.
Chief Statistician Datuk Seri Dr. Mohd Uzir Mahidin said that the country's labour demand remained favourable, aligned with the slower unemployment rate of 3.2 per cent in the quarter under review.
He added that the number of filled jobs also increased by 1.2 per cent, reaching 8.82 million jobs compared to 8.71 million in the same quarter last year, with the filled jobs rate remained high at 97.9 per cent.
Meanwhile, jobs vacancy rose by 0.4 per cent, totalling 191,800 with 2.1 per cent vacancy rate from 190,900 previously.
Mohd Uzir stated that the number of jobs created for this quarter demonstrated a slight decline of 0.6 per cent, with 31,800 new jobs created, compared to 32,000 in 3Q 2023.
"The consistent upward trend of filled jobs reflects the ongoing progress in the present economic conditions. This stability was also portrayed by the positive annual growth of filled jobs across all economic sectors," he said in a statement.
Of the total number of jobs created, Mohd Uzir said that the semi-skilled category made up the largest share of 63.3 per cent (20,100 jobs), followed by the skilled category (26.4 per cent; 8,400 jobs) and low-skilled category (10.3 per cent; 3,300 jobs).
He added that the services sector was the most significant contributor out of other economic sectors, generating 15,700 jobs (49.5 per cent), particularly in the wholesale and retail trade sub-sector, which created 9,000 jobs.
Meanwhile, the manufacturing sector contributed 10,900 new jobs (34.4 per cent), primarily in the electrical, electronic, and optical products sub-sector, which posted 4,000 jobs and the construction sector accounted for 3,700 new jobs (11.5 per cent).
Mohd Uzir noted that labour demand is expected to remain stable throughout the year, supported by favourable economic growth with encouraging developments in business activities.
He also highlighted that the 2.9 per cent increase in employed persons, and the 1.7 per cent rise in the number of persons engaged in the services sector aligns with the broader expansion of economic activities driving this positive momentum.
Therefore, he said Malaysia's labour market is anticipated to remain encouraging with continuous developments in the economic and business activities, creates more job opportunities and income in the economy and thus, lead to more labour participation in the market.