KUALA LUMPUR, Nov. 10 (Xinhua) -- The number of unemployed persons in Malaysia declined by 0.2 percent to 519,900 persons from 520,900 persons in the third quarter, official data showed Monday.
The Department of Statistics Malaysia (DOSM) said in a statement that the unemployment rate for the third quarter stood at 3 percent.
Meanwhile, the labor force expanded by 0.7 percent quarter-on-quarter, recording 17.49 million persons.
The labor force participation rate edged up by 0.1 percentage points to 70.9 percent, compared to 70.8 percent in the preceding quarter.
Following this upward trend, the number of employed persons also rose by 0.7 percent to 16.97 million persons from 16.85 million persons in the second quarter.
As for September, the unemployed decreased further to 518,600 persons, recording an unemployment rate of 3 percent.
"Malaysia's labor market is recording its best performance in over a decade, with promising prospects for the coming year in terms of employment opportunities, economic stability, and social development," the DOSM said.
It expects the labor market to expand steadily, with a strong focus on human capital development, entrepreneurship, and strategic sectors such as the halal industry and digital technology. ■