KUALA LUMPUR, Jan. 27 (Xinhua) -- Wages in the formal sector in Malaysia increased by 5.6 percent year on year, reaching 2,745 ringgit (627 U.S. dollars) in September 2024, official data showed Monday.
The Department of Statistics Malaysia (DOSM) said in a statement that the increase in median monthly wages signifies a better labor market landscape in the third quarter of 2024, reflecting the country's steady economic performance.
In September 2024, the number of Malaysian formal employees reached 6.82 million persons, reflecting a 2.1 percent increase compared to the same month in the previous year.
In terms of formal employees by gender, the male accounted for 55.2 percent (3.76 million persons) of the total in September 2024, and received median monthly wages of 2,782 ringgit.
On the other hand, female employees who made up 44.8 percent (3.05 million persons) of the total, received median monthly wages of 2,700 ringgit during the same period.
The median monthly wages for both male and female formal employees showed an increasing trend of 5.2 percent and 7.2 percent, respectively, compared to September 2023.
Meanwhile, all economic sectors experienced positive growth in median monthly wages during September 2024, compared to the previous year. (1 ringgit equals 0.23 U.S. dollars) ■