Kuala Lumpur recorded the highest median monthly wage in the third quarter of 2023 at RM3,800, says Malaysia’s chief statistician. Kuala Lumpur exceeded the national rate of RM2,600, together with Selangor at RM2,900 and Penang at RM2,645. Kelantan, Perlis and Sabah had the lowest median monthly wage during the same period, with each recording RM1,600, RM1,627 and RM1,800 respectively.
The overall number of local workers in the formal sector rose by 1.3% to 6.68 million in September 2023 compared with the same month the previous year. Of the total, he said 55.4% or 3.7 million were men, while 44.6% or 2.98 million were women. Median monthly salaries in the formal sector saw a 5.8% increase for men to RM2,645 while women received RM2,518, with growth across all sectors in the third quarter of 2023. In terms of wage distribution, 34.6% of formal workers in Malaysia received salaries below RM2,000 in September 2023.
Source: https://en.wikipedia.org
In terms of age groups, formal workers aged between 25 and 29 comprised one-fifth of all formal workers in September 2023, which is 19.9% or 1.33 million people. Those aged 65 and above recorded the lowest number of formal workers with 0.1 million people or 1.5%. The 45-49 age group received the highest median monthly wage in September 2023 at RM3,500. This age group also had the highest median monthly wage in July 2023 (RM3,482) and August 2023 (RM3,500). The group comprising those aged 20 and below received the lowest median monthly wage of RM1,500 in September 2023, remaining unchanged for three consecutive months throughout the third quarter of 2023.
Although median wage seems reasonable, the cost of living in KL is higher than other cities. It is disposable income that matters. And in KL that will be close to zero, with food, transport and rental rates moving up!
Reference:
KL records highest median monthly wage in Q3 2023, Free Malaysia Today, 24 January 2024
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