PUTRAJAYA, Feb 20 (Bernama) -- Malaysia’s labour productivity per hour grew by 1.4 percent in the fourth quarter of 2024 (Q4 2024), reaching RM44.2 per hour, based on the Q4 2024 Labour Productivity Statistics released by the Department of Statistics Malaysia today.
Chief Statistician Datuk Seri Dr. Mohd Uzir Mahidin said Malaysia's economy expanded 5.0 percent in Q4 2024 compared to 5.4 percent in Q3 2024, while total hours worked increased by 3.5 percent registering 9.7 billion hours(Q3 2024: 2.7 percent, 9.7 billion hours).
"The total number of employed persons grew by 2.7 percent year-on-year, reaching 16.8 million in Q4 2024 (Q3 2024: 2.9 percent; 16.7 million persons). Labour productivity per employment increased by 2.2 percent, with value-added per employment rising to RM25,647 per person (Q3 2024: 2.4 percent; RM25,081 per person)," he said in a statement today.
Mohd Uzir said the sectoral performance for labour productivity expressed as value-added per hour for this quarter was driven by the growth in the construction sector at 18.7 percent (Q3 2024: 20.0 percent), followed by the manufacturing sector at 2.4 percent (Q3 2024: 3.4 percent) and the services sector at 0.9 percent (Q3 2024: 1.4 percent).
The mining and quarrying sector and the agriculture sector slumped to -2.7 percent (Q3 2024: -5.7 percent) and -1.8 percent (Q3 2024: 4.2 percent), respectively.
The performance in labour productivity per hour for the services sector in the fourth quarter of 2024 was propelled by the growth in transportation and storage (7.6 percent), real estate and business services (6.1 percent), finance and insurance (3.2 percent), other services (1.7 percent), and information and communication (0.7 percent).
“Three subsectors demonstrated negative growth, namely utilities (-1.5 percent), wholesale and retail trade (-0.5 percent), and food, beverages and accommodation (-0.5 percent),” he added.
Meanwhile, sectoral labour productivity, measured by value-added per employment, was driven by sustained growth in the construction sector at 19.7 percent (Q3 2024: 18.9 percent), followed by the manufacturing sector at 3.0 percent (Q3 2024: 4.1 percent) and the services sector at 1.8 percent (Q3 2024: 1.3 percent).
The agriculture sector and the mining and quarrying sector declined at -1.7 percent (Q3 2024: 3.0 percent) and -1.3 percent (Q3 2024: -4.0 percent), respectively.
Providing further insights into Malaysia’s overall labour productivity performance for 2024, Mohd Uzir noted that labour productivity per hour grew by 2.1 percent (2023: 0.1 percent), with value-added per hour reaching RM42.8 (2023: RM41.9).
"Similarly, labour productivity per employment maintained positive momentum, rising by 2.4 percent (2023: 0.7 percent) to a value-added per employment of RM99,137 per person (2023: RM96,780 per person)," he concluded.
-- BERNAMA
BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; www.bernama.com; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies.
Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter : @bernama.com, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial
