Wage growth trails productivity, BNM calls for review


Bank Negara deputy governor Datuk Marzunisham Omar.

KUALA LUMPUR: Bank Negara Malaysia (BNM) sees the country’s wage growth has lagged productivity growth, and believes there is a need to review its wage- setting system, particularly how adjustments to the minimum wage translate into wages at higher levels.

BNM deputy governor Datuk Marzunisham Omar said statistically, Malaysia still does not have sufficient high-skilled jobs.

“If you look at it, our (high-skilled) underemployment rate is still high, about 35% to 36%. Meaning  that 35% to 36% of our workers are working in jobs that require less qualifications than what they already have at the moment,” he said at a plenary session titled The Future of Investment: Competing in A Fragmented World at the BNM Sasana Symposium 2026 yesterday.

He opined that Malaysia needs to create more high-skilled jobs through investments, while continually improving the quality of its labour force. — Bernama

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In Business News

Lagenda eyes next growth chapter with record RM1.75bil unbilled sales
Master Tec posts 21.5% rise in 2Q net profit
DRB-Hicom expects moderate outlook for FY26
OCR’s Residensi Akasia fully sold as project reaches topping-out stage
FGV appoints Nurul Muhaniza Hanafi as group managing director
Golden Destinations eyes growth with East Malaysia, Singapore expansion
ITMAX bags RM186.8mil Perkeso contract
Kossan to acquire S'pore-based company for RM48mil
MMCS eyes growth backed by RM101.7mil order book
Ringgit extends gains to close higher vs major, regional currencies

Others Also Read