Malaysia is one of the biggest and strongest economies of South-East Asia, with a relatively low unemployment rate. The average monthly salary steadily increased from around 1.8 thousand Malaysian ringgit in 2010 to around three thousand Malaysian ringgit in 2022. Employees with a university degree could expect to earn almost twice as much.
Can wages keep up with the cost of living?
However, when seen in the context of rising living costs, wages in Malaysia have not been able to keep up. Despite having a relatively low inflation rate, prices have still gone up. Malaysians spentmore than 40 percent of their income on housing and food. In May 2022, the Malaysian government increased the minimum wage to 1,500 Malaysian ringgit monthly, or 7.21 Malaysian ringgit hourly, in the hopes of easing the financial burdens of its citizens.