Malaysia's labor demand continues to improve in Q1

Kuala Lumpur [Malaysia], May 12: Malaysia's labor demand continued an upward trend in the first quarter with total jobs recorded an increase of 2.7 percent, surpassing the same period in 2019, official data showed Thursday.The Department of Statistics Malaysia (DOSM) said in a statement the first quarter saw an increase of 233,700 jobs in the economic sector to record 8.81 million jobs as compared to 8.57 million jobs in the first quarter of 2022.DOSM said the trend indicates the country's gradual economic recovery, adding that the number of jobs in this quarter was the highest throughout the time series since 2018.A similar trend was also observed for the number of filled jobs, which edged up by 2.7 percent, recording 8.61 million jobs in the first quarter, as compared to 8.39 million jobs a year ago.Job vacancies had also increased to 192,600 jobs during this quarter, largely in the manufacturing sector.Despite the expectation that the economic growth momentum would lose steam this year amid global recessionary risks, DOSM said business activities in Malaysia have continued to grow, contributing to more job opportunities, hence strengthening Malaysia's labor market."Labor market position is also anticipated to remain stable and expanding in the upcoming months led by the current development of economic activity in Malaysia," it said.Source: Xinhua