Malaysia's graduate workforce expanded to 5.98 million people in 2024 while joblessness among degree and diploma holders dropped to 3.2 percent, government figures released on Sunday showed. Chief Statistician Datuk Seri Dr Mohd Uzir Mahidin attributed the gains to robust economic conditions and stronger hiring throughout the year, with educated workers representing 22.3 percent of the population aged 15 and older.
About 5.14 million graduates participated in the labor market, producing a participation rate of 86 percent. Degree recipients made up 54.9 percent of this group at 3.28 million workers, while diploma holders accounted for 45.1 percent at 2.7 million. Employment among credentialed workers climbed 4.6 percent to 4.98 million, with two-thirds holding skilled positions as professionals, technicians, or managers. Median monthly earnings rose 2.5 percent to 4,521 ringgit, and mean compensation jumped 8.1 percent to 5,330 ringgit.
Federal programs launched under Budget 2024 helped boost graduate prospects, Mohd Uzir said. Authorities provided access to 2 billion ringgit from employer levies to subsidize entry-level salaries and expanded training schemes. Nearly two-thirds of job seekers with degrees found work within three months, and underemployment affecting overqualified workers fell to 32.2 percent.
About 5.14 million graduates participated in the labor market, producing a participation rate of 86 percent. Degree recipients made up 54.9 percent of this group at 3.28 million workers, while diploma holders accounted for 45.1 percent at 2.7 million. Employment among credentialed workers climbed 4.6 percent to 4.98 million, with two-thirds holding skilled positions as professionals, technicians, or managers. Median monthly earnings rose 2.5 percent to 4,521 ringgit, and mean compensation jumped 8.1 percent to 5,330 ringgit.
Federal programs launched under Budget 2024 helped boost graduate prospects, Mohd Uzir said. Authorities provided access to 2 billion ringgit from employer levies to subsidize entry-level salaries and expanded training schemes. Nearly two-thirds of job seekers with degrees found work within three months, and underemployment affecting overqualified workers fell to 32.2 percent.
