Malaysia Jobless Rate Up

Unemployment in Malaysia is rising, the latest data released by the Statistics Department showed, Bernama reported. The obvious correlation to the rise in the jobless rate, which in Malaysia is counted as those who are unemployed but remain actively looking for a job, is the slower pace of economic growth. The economy, up until the second quarter ended June 30, has slowed for five quarters in a row with weak exports, the main drag on growth. Although private consumption and investments supported the economy in the second quarter, economists are not very confident that this will drive growth in the coming quarters without supportive government policies and improvement in overseas consumer demand.