Unemployment rate in February falls 0.1%

By KEVIN WONG / Pic By TMR

The country’s unemployment rate has slightly fallen to 3.3% in February 2018, down 0.1% from January, said the Department of Statistics (DoS).

Based on year-on-year (YoY) comparison, the unemployment rate in February 2018 was also 0.2% lower than the same period last year, according to the February 2018 Labour Force Statistics report which was released yesterday.

In a statement, the department said the number of labour force had increased by 0.3% in February 2018 to 15.23 million from 15.19 million in January 2018.

With regard to labour force participation rate in February 2018, the department stated that it has remained the same at 68.2% compared to that of the previous month.

“On YoY comparison, the labour force participation in February 2018 increased 0.4% from the same month a year ago,” it stated.

DoS added that 31.8% (7.11 million) of the working age population of 15 to 64 years, were outside the labour force in February 2018, an increase from 7.07 million in the previous month.

The group included housewives, students, retirees and those who were not interested to work.