Employment in October 2013 took a setback (‘000):
The economy lost 98.5k jobs in October, which to be fair isn’t all that unusual – the October-November period usually sees a reduction in employment due to people leaving the workforce (‘000):
However, net job losses are a little higher than normal, which results in a higher unemployment rate:
Given the known volatility of the series, I don’t doubt this is temporary, and we should see the the unemployment rate falling back to around the 3.1% level next month. I’ll start getting worried if it stays where it is.
Technical Notes:
October 2013 Employment Report from the Department of Statistics (warning: pdf link)
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Dear Mr Hisham,
ReplyDeleteI'd like to know how to the stats department really keep track of the employment records; do they survey firms every month or do the those became unemployed report themselves in or how? Just curious to know more about it. Thank you sir
_Phlogiston84_
It's by survey. From the report:
DeleteLabour Force Survey (LFS) is
conducted to collect information on the structure and
distribution of labour force,
employment and unemployment.
The LFS covers both urban
and rural areas of all states
in Malaysia through the
personal interview method.
The survey population is
defined to cover persons who
live in private living quarters
and hence excludes persons
residing in institutions such
as hotels, hostels, hospitals,
prisons, boarding houses and
military barracks.
The survey comprises the
economically active and
inactive population. To meas-ure the economically active
population, the LFS uses the
age limit of 15 to 64 years.
The economically active
population comprises those
employed and unemployed
whereas those who are
inactive is classified as out-side labour force
Btw,this data is base on international report or malaysia only?
ReplyDeleteNobody compiles aggregate data on international employment and unemployment; this is for Malaysia only.
Delete