PUTRAJAYA, Jan 11 — The unemployment rate fell to 2.9 per cent in November, the lowest in 11 years, signalling that the country’s labour market is on a path to recovery and stable growth, said Human Resources Minister Datuk Seri R. Ramanan.
He credited this achievement to the strengthening of the nation’s economy under the leadership of Prime Minister Datuk Seri Anwar Ibrahim.
“This decline in unemployment is supported by an increase in employment, which reached 17.09 million, and the employment-to-population ratio rose to 68.8 per cent, showing that more Malaysians are entering the job market,” he said in a statement yesterday.
Ramanan also noted that the labour force participation rate (LFPR) remained strong at 70.9 per cent, reflecting public confidence in the economy and the labour market’s ability to provide stable and quality job opportunities.
“A high participation rate indicates that the country’s economic fundamentals are healthy and resilient,” he added.
Ramanan highlighted that the labour market remains stable, with wage earners making up 74.8 per cent of the total workforce. This reflects an increase in formal employment and better social protection for workers.
“These positive trends are not the end but a stepping stone for the Ministry of Human Resources (KESUMA) to continue strengthening the labour market, aligning it with industry needs and preparing for future demands to keep the economy competitive,” he said.
He added that under the Madani Economic Framework, KESUMA will continue to implement key initiatives, such as upskilling, reskilling, progressive wage policies, and improving job quality and worker protection.
Ramanan reiterated the government’s commitment to ensuring inclusive and sustainable economic growth that benefits all citizens, with no one left behind.
“I have directed KESUMA to continue advancing quality employment through training, skills development, and labour market reforms to ensure that economic growth translates into the well-being of the people,” he said. — Bernama
