Malaysia's jobless rate shoots up to 5%, highest since 1990.

The numbers are expected to rise in the coming months.

Alfred Lee15 Jun, 2020

Malaysia's jobless rate shoots up to 5%, highest since 1990.

Malaysia's unemployment rate spiked to 5% as of April 2020, affecting approximately 778,800 people, according to a statement by Malaysia's Chief Statistician.

As of April 2020, the working population decreased by 156.4k people, totalling to 14.93 million people still being employed.

People most affected were in manufacturing, hospitality, F&B, entertainment/recreation, and retail sectors.

Chief Statistician of Malaysia, Datuk Seri Dr Mohd Uzir Mahidin.

This figure is the highest unemployment rate since 1990, and is expected to rise despite the economy being reopened, as purchasing power has severely decreased since lock-downs.

At the same time, consumer behaviour has dramatically changed since the lock-downs, with many people still staying indoors (and not traveling) despite the country reopening.

‚ÄúDuring this period, companies will have the tendency to reduce the number of employees to ease the burden of operating costs despite predicting a decline in their business revenue", mentioned Chief Statistician of Malaysia Datuk Seri Dr Mohd Uzir Mahidin.

Alfred LeeAuthor

Journalist at BEAMSTART. I write about breaking business news in the region.

Share this Story

More Stories

BEAMSTART News covers the latest stories on Business, Finance, and Opportunities in Asia. We are an extension of global partnerships platform BEAMSTART.

Stay updated with us via our channels below:


Download the App

Be part of the global community of CEOs, Business Leaders, and Professionals. Download below to instantly form partnerships and discover opportunities:

© 2016 - 2020 BEAMSTART. All Rights Reserved.