Economy Grows Around 5%, Unemployment, Poverty, and Inequality Rates Decline

Economics & Macro

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13/03/2019 14:46 WIB

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Open unemployment in 2018 fell to 7 million people, or 5.34% of the total workforce, the lowest since 1999.

Economic Growth and Rates of Unemployment, Poverty, and Inequality (2014-2018)

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Economic Growth and Rates of Unemployment, Poverty, and Inequality (2014-2018)

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Indonesia's economy, growing at approximately 5% between 2015 and 2018, successfully reduced unemployment, poverty, and inequality. In 2018, the domestic economy grew by 5.17% compared to the previous year. Government-driven infrastructure development to improve connectivity, along with implemented social assistance programs, successfully lowered poverty and inequality within four years.

Based on data from the Central Bureau of Statistics (BPS), the number of open unemployment in 2018 decreased to 7 million people, or 5.34% of the total workforce of 131 million. This unemployment rate is the lowest since 1999. Furthermore, the number of impoverished people decreased to 25.7 million, or 9.96% of the total population—the lowest in history.

Similarly, Indonesia's inequality (Gini ratio) in 2018 fell to 0.384, the lowest since 2011. Social assistance programs such as the Family Hope Program (PKH), the Indonesia Smart Card (KIP), and non-cash direct assistance successfully reduced expenditure inequality between the poor and the rich.

"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."