Higher wages – a key reform agenda

WHEN the Madani Economy framework was launched at the end of July last year, one of the key challenges that were identified was the low labour share of income at just 32.4% as well as the low monthly median wages of RM2,250 based on 2022 data.

Fast forward to 2024, Malaysia’s median wages have increased to RM2,844 as at the first quarter of this year, a jump of 26.4% compared with the level seen in 2022.