Unemployment Rate is Higher during Covid-19 in Malaysia

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One of the expected numbers that will increase during the Covid-19 pandemic is the unemployment rate.

In Q1'2020 (March 2020), Malaysia's unemployment rate has increased to 3.9%.

In Q1'2019, the unemployment rate is only 3.4%.

This is the highest since March 2009.

Indeed, Covid-19 has taken a toll on the lives of many Malaysians.

The total number of unemployment is 610.5 thousand in March 2020.

In March 2019, the number is only 521 thousand.

According to some studies, the unemployment rate may go up as high as 5.5% in 2020 in Malaysia.

According to the IMF website, the unemployment rate for Malaysia in April 2020 is 4.9%.

*Note
The working-age population is defined as persons age 15 to 64 years who are employed, unemployed, or outside the labour force.

Hopefully, the unemployment rate in Malaysia will go down sooner.

Happy Investing! 😉

Reference:

https://www.dosm.gov.my/v1/index.php?r=column/cthemeByCat&cat=149&bul_id=d1k5WU1GV3kzeUdJS0E4N210VGZSUT09&menu_id=U3VPMldoYUxzVzFaYmNkWXZteGduZz09

https://tradingeconomics.com/malaysia/unemployment-rate

https://www.malaymail.com/news/malaysia/2020/05/14/malaysias-unemployment-rate-may-go-up-to-5.5pc-this-year-says-chief-statist/1866200

https://www.ceicdata.com/en/indicator/malaysia/unemployment-rate

https://www.channelnewsasia.com/news/asia/malaysia-unemployment-rate-highest-in-decade-covid-19-mco-12715022

https://data.worldbank.org/indicator/SL.UEM.1524.ZS?locations=MY

https://www.statista.com/statistics/319019/unemployment-rate-in-malaysia/

https://ringgitplus.com/en/blog/personal-finance-news/march-unemployment-rates-in-malaysia-rose-to-the-highest-in-a-decade.html

https://www2.staffingindustry.com/row/Editorial/Daily-News/Malaysia-Pre-Covid-19-unemployment-rate-steady-in-February-but-2020-unemployment-rate-forecasted-to-rise-53459

https://www.imf.org/external/datamapper/LUR@WEO/MYS

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