IMF Projects Indonesia to Have Highest Unemployment in Southeast Asia

Economics & Macro

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Adi Ahdiat 26/07/2024 12:54 WIB

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The IMF projects Indonesia's unemployment rate could reach 5.2% in 2024, the highest in Southeast Asia.

Unemployment Rate in Southeast Asian Countries (2024)*

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IMF Projects Indonesia to Have Highest Unemployment in Southeast Asia

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Unemployment Rate in Southeast Asian Countries (2024)*

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According to the International Monetary Fund (IMF) projection, Indonesia's unemployment rate could reach 5.2% in 2024.

This figure makes Indonesia the country with the highest unemployment rate in Southeast Asia.

Neighboring countries with unemployment rates not far from Indonesia's are the Philippines and Brunei Darussalam.

Unemployment in Malaysia, Vietnam, Singapore, and Thailand is lower, as shown in the graph. Data for Cambodia, Laos, Myanmar, and Timor-Leste are unavailable.

Despite being the highest compared to its neighbors, Indonesia's current unemployment rate has fallen compared to the COVID-19 pandemic period.

In 2020, Indonesia's unemployment rate reached 7%, triggered by the pandemic which caused mobility restrictions and a global economic slowdown.

The figure has gradually decreased since 2021, along with the world's recovery from the outbreak.

The IMF projects that Indonesia's unemployment rate in 2024 will be lower than last year.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."