Data from the Department of Statistics Malaysia (DOSM) reported that the labor production rate for the first quarter of 2022 (1Q22), with value added per job, jumped 2.7% to RM23,129 per person.
For the record, in the same quarter last year, the data saw a record of RM22,500 per person.
According to the Labor Productivity report, First Quarter 2022 published, Malaysia's employment data increased 2.2% to 15.6 million people.
It is in line with the transition aspirations of Phase 4 of the National Recovery Plan which saw the relaxation of standard operating procedures (SOPs) to allow for social events and gatherings, as well as businesses being reconnected to full capacity.
According to the Head of Statistics, Datuk Seri Dr Mohd Uzir Mahidin, this has given impetus to the positive labor market trend this quarter.
Clearly, the highest number of working hours was recorded at 4.6% at a record 8.9 billion hours after longer business operating hours were allowed during the quarter.
Apart from that, from the economic point of view, 3 sectors namely services, manufacturing and agriculture recorded positive growth in labor productivity according to the added value of each job.
Ijmal Mohd Uzir, he projected better developments in the next few months with the rise of the labor market giving positive economic indicators.
