KUALA LUMPUR, Dec. 18 (Xinhua) -- Malaysia's employment rose 2.3 percent year-on-year in October while unemployment rate remained stable at 3.4 percent, said Malaysian statistics department Monday.
In a statement, the department said, the country's labor force increased by 2.2 percent year-on-year to 15.09 million in October.
The employment grew 2.3 percent year-on-year to 14.58 million while unemployment declined 0.6 percent to 509,000.
Meanwhile, the unemployment rate for October fell slightly to 3.4 percent, from 3.5 percent last year.
MIDF Research said in a report Monday, the employment growth for October was the fastest ever recorded.
"Strong export performances since late last year has contributed significantly towards strengthening Malaysia's labor market," it said.
The research house also reiterated its expectation that Malaysia's unemployment rate to average at 3.3 percent in 2017.
"Moving forward, we anticipate domestic as well as global economic activities will stay on upward trajectory given key economic indicators are showing sign of optimism," it said. Enditem
