Malaysia's labor productivity up 1.9 pct in Q1-Xinhua

Malaysia's labor productivity up 1.9 pct in Q1

Source: Xinhua

Editor: huaxia

2024-05-23 19:02:15

KUALA LUMPUR, May 23 (Xinhua) -- Malaysia's labor productivity rose 1.9 percent year-on-year to 42 ringgit (8.91 U.S. dollar) per hour in the first quarter, aligned with 4.2 percent economic growth, official data showed Thursday.

The Department of Statistics Malaysia (DOSM) said in a statement that the total hours worked increased 2.2 percent year-on-year to 9.5 billion hours in the first quarter.

Labor productivity per employment also grew 2 percent year-on-year to 24,230 ringgit per person.

According to the DOSM, the growth was underpinned by a favorable economic position, supported by stable labor market conditions and low unemployment rates.

"Labor productivity is expected to post a better outlook as Malaysia's economy is recovering. The positive momentum of labor market growth and thriving business activities as well as strengthening human capital are among the factors for the enhancement of labor productivity," it said. (1 ringgit equals 0.21 U.S. dollar)