KUALA LUMPUR, Nov 8 — Youth unemployment in Malaysia remains a concern even as the country’s overall unemployment rate decreased slightly to 3.2 per cent in Q3 2024.
According to the Department of Statistics Malaysia (DOSM), Malaysians aged 15-24 represent the highest age group of unemployed individuals, with 292,000 young people out of work.
The department also reported that while the overall number of unemployed persons dropped by 1.8 per cent quarter-on-quarter, youth joblessness remains stubbornly high, indicating that entry-level opportunities or youth-targeted employment initiatives are still insufficient.
This challenge suggests a need for targeted government and private sector initiatives to boost youth hiring and help ease the transition from education to employment for young Malaysians.
Malaysia’s unemployment rate declined slightly to 3.2 per cent in the third quarter of 2024, down from 3.3 per cent in the previous quarter, reflecting a 1.8 per cent decrease in the number of unemployed individuals, which now stands at 547,900.
Meanwhile, the overall labour force grew by 0.7 per cent, reaching 17.26 million people. The labour force participation rate also saw a minor increase.
