The Central Statistics Agency (BPS) released data showing that the Open Unemployment Rate (TPT) in February 2018 decreased by 20 basis points (bps) to 5.13%, compared to February 2017, and also decreased by 37 bps compared to August 2017. This unemployment figure is the lowest since the 1998 crisis.
The number of unemployed in February of this year decreased by 140,000 people, or 2%, to 6.87 million from 7.01 million in February of the previous year. Similarly, compared to August 2017, the number of unemployed decreased by 170,000 people, or 2.41%, from 7.04 million.
The decrease in unemployment was supported by an increase in the number of employed people in February 2018 by 2.53 million (2.03%) to 127.07 million, compared to 124.54 million in February 2017. Meanwhile, the number of the workforce only increased by 2.39 million (1.82%) to 133.94 million. Compared to August 2017, the number of employed people increased by 6.05 million (5%), while the size of the workforce increased by 5.88 million (4.59%).