Cambodia ranks first in Asean and third among the 20 fastest growing economies in Asia with a growth rate of 6.1% in 2024PETALING JAYA: Malaysia’s labour market is expected to remain steady throughout 2024, supported by an expansion in economic activities.
“We expect the labour market to remain stable throughout 2024, reflected in the continuous employment growth observed recently. This is largely attributed to the expected steady expansion in economic activities driven by strong domestic demand,” Kenanga Research said. “An expected recovery in the manufacturing sector, driven by the technology upcycle, as well as the realisation of approved investments recorded last year would further boost hiring activities in the coming months,” it said.
“The improving global trade environment and implementation of foreign direct investment projects in the pipeline could also lead to better employment conditions in the export-oriented sectors,” HLIB Research said. In an earlier report, UOB Bank Research said it expected several growth catalysts to keep Malaysia’s labour market conditions stable and in a technically “full employment” situation.
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