Malaysia October Unemployment Rate Remains Stable

(RTTNews) - Malaysia's jobless rate remained unchanged in October, figures from the Department of Statistics showed Wednesday.

The unemployment rate came in at 2.7 percent in October, the same rate as in the previous month. During the same month last year, the jobless rate was at 3.3 percent.

The unemployment rate on a seasonally adjusted basis also held steady at 2.7 percent.

The number of unemployed people rose to 378,200 during the month from 377,200 in the previous month. A year ago, the number of people out of work totaled 453,400.

At the same time, the number of employed people decreased to 13.70 million in October from 13.72 million in September.

The labor force participation rate dropped to 67.4 percent in October from 67.9 percent in the prior month. Same month last year, the rate stood at 67.7 percent.