MOM: Despite an uptick in retrenchment, unemployment remains low. This suggests most retrenched workers have been able to find jobs quickly
about the labour market for the third quarter of 2023 on Thursday . Despite a weaker economic outlook, total employment has grown for the eighth consecutive quarter, excluding migrant domestic workers. There has been an increase in the number of employed residents and non-residents.
Unemployment rates, meanwhile, are at 2 per cent overall. For citizens, it’s at 3 per cent, and for residents, it’s at 2.8 per cent.Malaysia faces brain-drain, top talents choose to work in Singapore, even as economy shows signs of growth “While the labour market continued to expand, the pace of employment growth has slowed compared to a year ago, amid the global economic slowdown. Business expectations worsened in September 2023. The proportion of firms which indicated an intention to hire in the next three months fell from 58.2% to 42.8 per cent. Similarly, the proportion of firms with an intention to raise wages dropped as well, from 28.0 per cent to 18.0 per cent.
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