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PETALING JAYA: More Malaysians are moving to the city for economic opportunities, but most households are seeing slower income growth owing to the effects of the Covid-19 pandemic.
“Increase in urbanisation trends, driven by economic opportunities, correlates with state gross domestic product per capita,” it said.“Household income grew at a much slower rate compared to the decade preceding the pandemic , dropping from 5.3% to 1%,” it said. “During 2019-2022, Putrajaya and Kuala Lumpur saw significant declines in real median household income,” it said
“Districts in Selangor, except Klang and Petaling , were in the top percentile of CAGR growth in Malaysia.Additionally, it said growth in 2022 did not reach its full potential, leaving a 13% gap below pre-pandemic trends, highlighting a substantial lag in recovery. This, the report said, had led to an increase in absolute poverty especially in urban households, with the highest household increases in absolute poverty in Kuala Lumpur , Kuala Muda , and Kota Kinabalu .
Households Urban Study Report Households And The Pandemic 2019-2022 State Of Households 2024 Absolute Poverty Covid-19 Pandemic Growth Rate EPF Retirement Readiness
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