Slackening demand swells unemployment in Malaysia

Kuala Lumpur

THE number of unemployed in Malaysia is trending up as businesses, particularly manufacturers, continue to rightsize amid weak global and domestic demand.

The unemployment rate rose to 3.5 per cent in the seven months to July - above the five-year average of 3.1 per cent - and comes at a time of moderating consumption and GDP growth, AllianceDBS Research said this week of the rising jobless.

Based on central bank data, the higher unemployment rates coincide with fewer job vacancies available for active job seekers, it said, noting: "The rat…