Rising number of informal workers

Maybank IB Research said the growth in informal jobs for 2023 was 6.5% compared to 9.7% in 2022.

PETALING JAYA: Despite witnessing stability in the unemployment rate within the local labour market, a growing number of informal workers are causing economist to worry about the cost of living crisis.

Maybank Investment Bank (Maybank IB) Research reported that the jobless rate within the Malaysian job market is showing signs of stability, holding at 3.3% in December 2023 for the second consecutive month, bringing the average unemployment for the year to 3.4%, down from 3.8% in 2022.