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

Seeking value in Malaysia’s tech rally
Clearing the air on accountability
‘Prepare for lending’
From crime cache to auction
Genting downgraded again amid rising leverage
IHH says Fortis acquisition delays caused losses amid Daiichi Sankyo dispute with debtors
PETRONAS, Jogmec strengthening collaboration via master agreement
Malaysia Smelting gets nod to resume Rahman Hydraulic Tin operations
Hextar Industries RM177.48mil Woodpeckers deal falls through
Southern Score Builders bags RM180mil hospital project in Melaka

Others Also Read