Malaysia’s job market to improve in 2023 amid external concerns, says MIDF Research

The labour market is expected to strengthen further in 2023, underpinned by upbeat momentum in the domestic economy and modest expansion in the external sector, said MIDF Research.

MIDF Research 表示，劳动力市场预计将在 2023 年进一步走强，这得益于国内经济的乐观势头和对外部门的适度扩张。

It noted that Malaysia’s average jobless rate is expected to descend from 3.8% in 2022 to 3.5% in 2023, but slightly higher than the pre-pandemic level of 3.3%.

它指出，马来西亚的平均失业率预计将从 2022 年的 3.8% 下降到 2023 年的 3.5%，但略高于大流行前的 3.3% 水平。

“Malaysia’s job market in 2023 is anticipated to continue benefiting from firm domestic demand, China’s reopening, the revival of construction projects, expansion of primary sectors thanks to elevated global commodity prices, and modest external trade activities,

“预计 2023 年马来西亚的就业市场将继续受益于强劲的国内需求、中国的重新开放、建筑项目的复苏、由于全球商品价格上涨而初级产业的扩张，以及适度的对外贸易活动，

“In addition, we view that the recently-concluded general election should reduce domestic politics temperature and allow for better and smooth implementation of fiscal policy,” the research house said.

“此外，我们认为最近结束的大选应该会降低国内政治温度，并允许更好、更顺利地实施财政政策，”该研究机构表示。

MIDF Research said initiatives for labour market recovery and domestic economic growth should be among major elements in the upcoming re-tabling of Budget 2023 and the mid-term review of the 12th Malaysia Plan (12MP).

MIDF Research 表示，劳动力市场复苏和国内经济增长的举措应该是即将重新制定的 2023 年预算和第 12 大马计划（12MP）中期审查的主要内容之一。

It said steady expansion in primary sectors, as well as construction and services will prop up more employment opportunities next year, thereby labour force and employment are predicted to pick up by +1.6% respectively this year.

它表示，明年第一产业以及建筑和服务业的稳步扩张将支撑更多的就业机会，因此预计今年劳动力和就业将分别增长+1.6%。

MIDF Research also noted the continued recovery of Malaysia’s labour market, with the unemployment rate staying at 3.6% in November 2022.

MIDF Research 还指出，马来西亚劳动力市场持续复苏，2022 年 11 月失业率保持在 3.6%。

“The labour force and employment continued expanding +2.5% year-on-year (y-o-y) and +3.2% y-o-y, respectively, supported by robust domestic economic growth and upbeat external front.

“在强劲的国内经济增长和乐观的外部形势的支持下，劳动力和就业继续分别同比增长 2.5% 和 3.2%。

“Unemployment dropped further by 13.5% y-o-y, marking 15 consecutive months of contraction rate,” it said.

“失业率同比进一步下降 13.5%，连续 15 个月收缩，”它表示。

MIDF Research also said that for the youth aged 15 to 24, the unemployment rate was still at a double-digit rate of 11.9%, more than a two-year low, but higher than the pre-pandemic rate (2019: 10.4%).

MIDF Research 还表示，对于 15 至 24 岁的年轻人，失业率仍处于 11.9% 的两位数水平，超过两年低点，但高于大流行前的失业率（2019 年：10.4%） .

On the other hand, it said that outside labour force had also reduced by -1.5% y-o-y, registering the 13th-straight month of negative growth rate.

另一方面，它表示外来劳动力也同比减少-1.5%，连续第13个月出现负增长。

By type, MIDF Research shared that employment growth was driven by employers (+8.8% y-o-y), self-account workers (+8.4% y-o-y) and unpaid family workers (+5.5% y-o-y).

按类型划分，MIDF Research 认为就业增长是由雇主（同比增长 8.8%）、自雇工人（同比增长 8.4%）和无薪家庭工人（同比增长 5.5%）推动的。

Meanwhile, the employee segment, which represents 75.9% of total employment, grew steadily by +1.8% y-o-y.

与此同时，占总就业人数 75.9% 的员工部门同比稳步增长 1.8%。

MIDF Research however highlighted that the job patterns have shown signs of moderation in the economy, amid a weakening external outlook.

然而，MIDF Research 强调，在外部前景疲软的情况下，就业模式显示出经济放缓的迹象。

The research house said that the registered number of job vacancies in Malaysia was 326,300 in October 2022.

该研究机构表示，2022 年 10 月大马的职位空缺登记数为 326,300。

In the first 10 months of 2022, job vacancies remained the highest at 412,200 on average, it added.

它补充说，在 2022 年前 10 个月，职位空缺仍然最高，平均为 412,200 个。

“This reflects a strong recovery in domestic economic activities, fuelled by robust local demand and continuous expansion in the external sector.

“这反映出在强劲的本地需求和对外部门的持续扩张的推动下，国内经济活动强劲复苏。

“There is a better take-up by high-skilled occupations such as legislators, professionals and associate professionals.

“立法者、专业人士和准专业人士等高技能职业的就业率更高。

“By sector, we notice a steady pick-up in agriculture, services and construction sectors, possibly induced by elevated commodity prices, strong consumer demand, international borders reopening and revival of infra projects,” it said. 

“按行业划分，我们注意到农业、服务业和建筑业稳步回升，这可能是由于大宗商品价格上涨、消费者需求强劲、国际边界重新开放和基础设施项目复苏所致，”它说。