KUALA LUMPUR (July 10): Malaysia’s jobless rate remained steady in May amid steady hirings as the labour market expanded with economic growth, official data showed.

The unemployment rate in May was 3%, the Department of Statistics Malaysia (DOSM) said in a statement on Friday. Economists generally consider a 3% unemployment rate as the economy having full employment.

While there are external uncertainties that may affect hiring activities in some industries, the overall labour market stability is expected to be sustained, the department said.

“Malaysia’s labour market is expected to remain resilient in the coming months, supported by favourable domestic economic conditions, sustained investment activity and ongoing structural transformation,” it added.

In May, the economy saw the unemployed numbers rise to 513,400 persons from 511,800 persons in the previous month. The number of people with jobs, meanwhile, was 0.1% higher at 16.82 million persons.

All in all, the labour force expanded to 17.34 million persons in May compared to 17.33 million persons in April. The labour force participation rate, the proportion of persons employed or looking for work, was unchanged at 70.9%.

The employee category, comprising the majority of the workforce, was stable at 12.61 million persons. Own-account workers — people who operate their own farm or business, or engage in full-time trade without hiring paid employees — totalled 3.15 million persons.

In terms of age groups, unemployment among youths — those between 15 and 24 years old and just entering the labour market following education — was little changed at 10.2%, or about 291,600 people.