{"id":57634,"date":"2023-08-07T16:31:38","date_gmt":"2023-08-07T08:31:38","guid":{"rendered":"http:\/\/wordpress-my-161844363.ap-southeast-1.elb.amazonaws.com\/articles\/?p=57634"},"modified":"2024-02-06T12:12:38","modified_gmt":"2024-02-06T04:12:38","slug":"monthly-median-dosm","status":"publish","type":"post","link":"https:\/\/www.imoney.my\/articles\/monthly-median-dosm","title":{"rendered":"DOSM Releases Malaysia\u2019s Monthly Median Wages Number, Shows Inherent Problem With Wages"},"content":{"rendered":"

Last Friday, the Department of Statistics Malaysia (DOSM) released the Employees Wages Statistics (formal sector) report<\/a>, which painted a bleak picture of Malaysians working in the formal sector and their level of income.<\/p>\n

In the report, which covers 6.45 million Malaysians who work in the formal sector, it is revealed that the median wage stands at a paltry RM2,600.<\/p>\n

<\/span>46% of workers earning less than the median wage<\/span><\/h2>\n

Although the median wage recorded an 8% increase from the RM2,400 of last year, it still shows that the Malaysian formal sector still has a long way to go in terms of paying workers a liveable wage.<\/p>\n

Even more worrying, the report also revealed that 46% of Malaysians in the formal sector are taking home less than the median wage. In fact, according to the report, 10% of Malaysians are earning less than RM1500, which is supposed to be the minimum wage for Malaysian workers.<\/p>\n

\"\"<\/a><\/p>\n

Other things revealed in the report includes the median monthly wages according to sex, where male workers recorded a higher median compared to female workers.<\/p>\n

For median monthly wages according to ethnicity, where Chinese Malaysians tower among their counterparts, recording a median wage of RM4,745 compared to Malay\u2019s RM2,300, Indians RM2,727, and others at RM2,127.<\/p>\n

\"\"<\/a><\/p>\n

<\/span>Wages for skilled workers are being dragged down – Rafizi<\/span><\/h2>\n

At the press conference after the launch of the report, Economy Minister Rafizi Ramli<\/a> voiced out his worries regarding the numbers revealed by the report.<\/p>\n

In the report, it is shown that the median wage for Malaysians aged between 20-24 is a paltry RM1,682, which highlights a bigger problem.<\/p>\n

According to Rafizi, this shows the need for a policy that ensures the minimum wage is not used as the starting pay for skilled workers.<\/p>\n

In the press conference, Rafizi noted that the minimum wage is supposed to be a benchmark for unskilled workers, which will lead to higher wages for skilled workers.<\/p>\n

“However, statistics showed that the wages for skilled workers are being dragged down because minimum wage has been used as a guidance for fresh graduates and skilled workers.<\/p>\n

“This is a phenomenon that requires an immediate policy so that we can rectify the problem,” said Rafizi.<\/p>\n

In his address, Rafizi also stated how the numbers released by DOSM shows that there is an inherent wage problem among formal sector workers in Malaysia.<\/p>\n

Hence why he hopes and believes that the business community will be receptive towards the Progressive Wage Model which he will be presenting today (Monday).<\/p>\n

\u201cWe have harmonised the various agencies’ views on how we can do this. What we will be presenting next Monday is a halfway meeting which can be successfully implemented and practised in this country. It’s a middle path that requires commitment from the government and employers. We are hopeful that it will get the support from employers as well,\u201d he added.<\/p>\n

Read More: T20, M40, B40 Household Income Update 2023<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Where do you belong in DOSM\u2019s latest statistic?<\/p>\n","protected":false},"author":51,"featured_media":57649,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[256,218,216],"tags":[1210,989,1209],"class_list":["post-57634","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-lifestyle","category-money-management","category-news-updates","tag-median-wage-malaysia","tag-new-minimum-wage","tag-rafizi-ramli"],"acf":[],"yoast_head":"\nMalaysia\u2019s Monthly Median Wages Statistic Released By DOSM<\/title>\n<meta name=\"description\" content=\"The Department Of Statistics Malaysia released the median of the monthly wages of Malaysians, and the numbers are shocking, to say the least.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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