KUALA LUMPUR, June 1, 2024 (BSS/XINHUA) -- The median monthly wages for the formal sector in Malaysia increased by 4.9 percent year-on-year to 2,900 ringgits (616 U.S. dollars) in December 2023, according to official data.

The median monthly wages for male formal employees, which accounted for 55.5 percent of the total formal employees, stood at 2,945 ringgits, the Department of Statistics Malaysia (DOSM) said in a statement on Friday.

Meanwhile, female formal employees, which comprised 44.5 percent of the total formal employees, received 2,845 ringgits.

The age group of 45 to 49 years received the highest median monthly wages at an average of 3,927 ringgits in December 2023.

Overall, the number of Malaysian formal employees was 6.67 million persons in December 2023, an increase of 1.8 percent as compared to the same month in the previous year. (1 ringgit equals 0.21 U.S. dollar) .