Penang Chief Minister Lim Guan Eng dismissed fears of massive retrenchment in the manufacturing sector when he said unemployment rate here is one of the lowest in the country.

"Our unemployment rate stands at 1.5 percent. There are always ups and downs in the manufacturing sector because they are always carrying out restructuring exercises, it is common for them to do so.

"There are always gains and losses of jobs," he said after attending the first anniversary of JA Solar company in Bayan Lepas.