Malaysia’s labor market continues to show signs of improvement, with the number of unemployed individuals declining to 532,800 in February, bringing the national unemployment rate down to 3.1%, according to official data released on Friday.

In a statement, the Department of Statistics Malaysia (DOSM) reported that the labor force remains stable, reflecting the country’s positive economic momentum.

The total labor force rose by 0.3% month-on-month to 17.27 million people in February, while the labor force participation rate increased to 70.7%.

“The steady rise in employment and the continuous decline in unemployment contributed to this favorable trend,” DOSM said.

The number of employed persons also grew by 0.3%, reaching 16.73 million in February.

Looking ahead, DOSM noted that Malaysia’s labor market outlook appears optimistic, underpinned by sound policy measures and sustained investment in high-growth, high-value industries.