Malaysia unemployment, labor participation rate remains stable in October

 The rate of unemployment remained stable during the month of October, with the rate of labor force participation also maintaining the same pace.

Malaysia’s jobless rate came in at 3.5 percent in October, the same rate as in the previous month. In the corresponding month last year, the rate was 3.3 percent, data released by the Department of Statistics showed Friday.

The number of unemployed people fell to 511,700 in October from 512,600 in September. A year ago, the jobless figure totaled 481,300. Also, the labor force participation rate also remained unchanged at 67.6 percent in October.

The seasonally adjusted jobless rate dropped slightly to 3.5 percent in October from 3.6 percent in the preceding month.

Meanwhile, USD/MYR traded flat at 4.48 at 7:00GMT.