Malaysia's labor productivity up 2.1 pct in Q1

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KUALA LUMPUR, May 18 (Xinhua) -- Malaysia's labor productivity posted 2.1 percent growth with total hours worked increasing 3.5 percent to register 9.2 billion hours in the first quarter of 2023, official data showed Thursday.

Growth was underpinned by the number of employment, which grew 3.1 percent to 16.1 million people for the quarter, the Department of Statistics Malaysia (DOSM) said in a statement.

In terms of value, Malaysia's labor productivity per hour worked in the first quarter was 41.2 ringgit (9.1 U.S. dollar), while labor productivity measured as value added per employment increased 2.4 percent to record 23,712 ringgit (5,232 dollars).

In terms of sectoral performance for labor productivity measured as valued added per hour worked, four sectors posted increases.

The sector that posted the highest growth was construction sector which rose 6.5 percent.

This was followed by services sector which increased by 2.8 percent; mining and quarrying which went up 1.6 percent, and manufacturing which climbed 0.2 percent.

The agriculture sector, however, remained sluggish with a negative growth of 0.9 percent.

The DOSM expects a better outlook for Malaysia's labor productivity in the coming quarters as supported by the positive momentum of labor market development and thriving business activities.

It said the country's determination in accelerating technology adoption and innovation, and to push towards innovation-centric economic growth, will ascertain the enhancement of innovation-driven businesses and targeted high-performance labor productivity. Enditem

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