Malaysia’s graduate labour market continued to strengthen in 2024, supported by stable economic growth and rising employment opportunities across key sectors.
According to the Graduates Statistics 2024 report released by the Department of Statistics Malaysia (DOSM), the number of graduates increased by 4.1% to 5.98 million, while the unemployment rate among graduates fell to 3.2%.
The positive trend reflects the resilience of Malaysia’s job market and the effectiveness of government initiatives aimed at boosting employability and human capital development.
Out of the total 5.98 million graduates, 5.14 million were part of the labour force, while 838,800 (14%) were outside the labour force, such as those continuing studies or engaged in household activities. The Graduate Labour Force Participation Rate (GLFPR) improved to 86.0%, up from 85.3% in 2023, showing stronger engagement of graduates in the job market.
By gender, male graduates recorded a participation rate of 89.0%, while female graduates stood at 83.4%. The narrowing gender gap reflects greater inclusivity and a more balanced employment environment for both men and women.
The graduate unemployment rate fell to 3.2% in 2024, compared to 3.4% in 2023, supported by stronger hiring across industries and sustained domestic demand. Analysts note that this decline underscores the success of government initiatives and private sector collaboration in aligning education outcomes with industry needs.
Programmes under Budget 2025 such as reskilling and upskilling efforts, digital training, and entrepreneurship support have also contributed to improving job readiness among graduates.
Earnings among graduates continued to grow in 2024, reflecting improvements in job quality and income stability. The mean monthly salary rose to RM5,330, while the median salary increased to RM4,521.
Graduates with a degree qualification earned a median salary of RM5,724, while diploma holders received RM3,390. These increases highlight the continued returns on investment in higher education and the strong demand for skilled professionals in Malaysia’s evolving economy.
The government has reaffirmed its commitment to enhancing student welfare and employability, with plans to integrate artificial intelligence (AI)-based learning tools and expand industry partnerships to ensure that future graduates are well-equipped for high-value, innovation-driven roles.
Shahriena Shukri is a journalist covering business and economic news in Malaysia, providing insights on market trends, corporate developments, and financial policies. More about Shahriena Shukri.
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