The 2008 World Factbook released their list of unemployment rate (%) 2008 country ranks. From a total number of 200 countries, Malaysia is ranked 42 at the rate of 3.7%. From the statistics, our employment climate is better compared to Hong Kong(ranked 48) and Japan(51) but worse compared to Thailand(7) and Singapore(23).
Unemployment rate-country comparisons »
Interestingly, Malaysia’s unemployment rate has been hovering between 3.0% and 3.8% since year 2000. Compare to most countries, our rate has been relatively stable. Hence, a 3.7% was not such a shocking number after all. However, with the impact of recession felt more this year than end of last year, the rate has definitely slipped further today. It was predicted by many that the rate may even reach 4.5% before end of the year. The figure predicted is not as bad compared to 4.8% given to our neighboring country, Singapore.
Do you know that since the financial crisis in 1998, Malaysia’s unemployment rate has never gone below 2.8%?
Source: http://www.indexmundi.com
We used to enjoy a fairly good employment market in the 1990s with the lowest recorded in 1997 at 2.4%.
Though we can lament and wish for the good old days, let’s take heart from the country rankings that Malaysia by far is still a better choice in terms of finding a job.
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