Decline in Malaysia’s Unemployment Rate in July 2020 a Positive Indicator

Following the progressive re-opening of Malaysia’s economy since May 2020, Malaysia’s unemployment rate declined to 4.7% in July 2020, as reported by Mustapa Mohamed, Minister in the Prime Minister’s Department.

Mustapa stated that the stimulus packages and the re-opening of the economy has stimulated labour markets and economic activity in Malaysia, with nearly all sectors back in operation.

According to Mustapa, this is a marked improvement from the record high unemployment rate of 5.3% reported in May 2020, resulting from the effects of the conditional movement control order (CMCO) imposed on the 4th of May 2020, which saw certain only sectors of the economy re...