Malaysia's labour demand records 9.01mn jobs in Q3 2024

This reflects a positive year-on-year trend, according to the Department of Statistics, with a continuous increase in the number of jobs, and marking the highest number recorded since 2018. 

The Department of Statistics Malaysia (DOSM) announced on 14 November 2024 that the country’s labour demand recorded a total of 9.01mn jobs in Q3 2024, showing a positive year-on-year trend. 

Chief Statistician Malaysia, Dato' Sri Dr. Mohd Uzir Mahidin said: "The country's labour demand remained favourable in the third quarter of 2024, with a continuous increase in the number of jobs by 1.2% year-on-year, bringing to a total of 9.01mn jobs. For the record, it was the highest number recorded since 2018.” 

He added that these statistics align with the slower unemployment rate of 3.2% which was reported in the Labour Force Statistics of Q3 2024." 

Here are some excerpts from the statistics:  

• The number of filled jobs increased by 1.2%, reaching 8.82mn jobs (Q3 2023: 8.71mn) with the filled jobs rate remaining high at 97.9%. 
• Jobs vacancy rose by 0.4%, totalling 191,800 (Q3 2023: 190,900) with 2.1% vacancy rate. 
• The number of jobs created for this quarter demonstrated a slight decline of 0.6%, with 31,800 new jobs created, compared to 32,000 in Q3 2023. 
• The agriculture sector recorded the highest growth at 1.8%, followed by services and manufacturing at 1.6% and 1.0% respectively. 

Labour demand by skill  

The semi-skilled category accounted for the largest share of vacancies, with 55.9% or 107,100 vacancies, followed by the skilled category at 24.8% (47,500) and the low-skilled category at 19.3% (37,200). 

Malaysia created 31,800 new jobs during the quarter to meet growing economic demands, a slight decrease from the previous year's 32,000. The semi-skilled category was the primary contributor, generating 63.3% or 20,100 new jobs, followed by the skilled category at 26.4% (8,400) and the low-skilled category at 10.3% (3,300). 

The services sector was the most significant job creator, contributing 15,700 jobs (49.5%), particularly in the wholesale and retail trade sub-sector, which added 9,000 jobs. The manufacturing sector followed, creating 10,900 jobs (34.4%), primarily in the electrical, electronic, and optical products sub-sector, which added 4,000 jobs. The construction sector contributed 3,700 new jobs (11.5%). 

Labour demand by economic sector 

In the economic sector, 4.67mn jobs were concentrated in the services sector. The highest number of jobs in services sector was recorded by the wholesale & retail trade sub-sector with a total of 1.73mn jobs.  

This was followed by manufacturing at 27.6% (2.49mn). Moreover, construction sector accounted for 14.1% (1.27mn), whereas agriculture sector contributed 5.6% (501,000). Mining & quarrying sector came last with 0.9% or 80,000 jobs. 

In fact, the services sector was also the main contributor for filled jobs with 52.7%, representing a total of 4.65mn jobs. The manufacturing sector followed with 27.0% share, contributing 2.38mn of total filled jobs. At the same time, the construction and agriculture sector accounted for 14.1 % (1.24mn) and 5.3% (469,000) respectively. 

Regarding jobs vacancy, the manufacturing sector led with 56.9%, marking a total of 109,100 vacancies available. Followed suit were the agriculture and construction sectors with contribution of 16.7% (32,000) and 13.2% (25,400) respectively. 

In addition, the services sector was the main contributor in jobs created for this quarter, with 49.5%(15,700) of total jobs created whereas manufacturing sector at 34.4% (10,900), followed by construction at 11.5% (3,700). 

Dato’ Sri Dr. Mohd Uzir Mahidin 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% increase in employed persons, as reported in the Labour Force Statistics, Third Quarter of 2024 and the 1.7% year-on-year rise in the number of persons engaged in the services sector, as reported in the Quarterly Services Statistics, Third Quarter of 2024 aligns with the broader expansion of economic activities driving this positive momentum.  

“Therefore, 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.” 

READ MORE: Over 20,000 jobs generated in Malaysia's manufacturing sector in Q3 2024 

Lead image / DOSM