Malaysia’s risk of mass job losses from global energy crisis remains low, says economy minister

KUALA LUMPUR, June 29 — Malaysia’s exposure to the risk of mass scale job losses stemming from the global energy supply crunch remains low, Economy Minister Akmal Nasir Nasrullah told Parliament today, even as the crisis is already putting some pressure on local companies.

The Johor Baharu MP said rising prices and slower demand for exports could put a squeeze on business operations, but the latest employment data suggested firms have not laid off at a large scale. 

The unemployment rate rose to just one percentage point to 3.0 per cent in May this year, from 2.9 per cent in April 2026

“The expectation of this risk remains low for Malaysia, given that the labor force participation performance remains stable, despite a slight increase in the unemployment rate,” Akmal said when delivering a special communication session in Parliament’s Lower House today.

“The government is closely monitoring this situation so that any changes can be addressed proactively.”

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