Jobless rate down to 2.9pc
SERDANG, July 7 — The unemployment rate in Malaysia has dropped from 3.1 per cent to 2.9 per cent so far this year, said Deputy Finance Minister Datuk Donald Lim Siang Chai.
Lim compared this with advanced economies such as the United States and Europe, where unemployment is at 9 per cent and 11 per cent respectively.
Lim attributed this to the level of investor confidence in Malaysia.
“In the first five months of this year, the unemployment rate was 2.9 per cent,” Star Online quoted Lim as saying. “(To look at it simply) at a 3 per cent unemployment rate, it is almost as if everyone has a job,” Lim said after launching the Malaysia-Seri Kembangan 10,000 Healthy Steps community programme at Taman Universiti Indah here today.
Lim, who is also Selangor MCA chairman, said foreign direct investments (FDI) had surged.
According to the United Nations Conference on Trade and Development (UNCTAD) 2012 World Investment Report, FDI in Malaysia had leapt to US$11.97 billion (RM35.9 billion) compared with US$9.1 billion in 2010 and US$1.45 billion in 2009.
Star Online said the Ministry of International Trade and Industry reported that the manufacturing sector accounted for the largest share of FDI and that 72 per cent of total trade came from Asian countries.
“It shows that foreign investors are comfortable and confident with the business climate in Malaysia, which is facilitated by programmes endorsed by the Federal Government, such as the Economic Transformation Programme,” Lim said.
“With these programmes, more than 300,000 job opportunities will be created.”