Labor Force Participation Rate Increased in the Last Five Years
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Indonesia's labor force participation rate (LFPR) has steadily increased from 2016 to 2020. According to data from the Central Bureau of Statistics (BPS), the LFPR reached 67.77% in August 2020, a 1.43% increase compared to August 2016, which stood at 66.34%.
The highest increase in LFPR occurred in August 2018, reaching 67.31% (a 0.64% increase). Conversely, the lowest increase was recorded in August 2019, at 0.22%, reaching 67.53%.
BPS defines LFPR as the percentage of the population aged 15 and above who are part of the labor force. The LFPR indicates the percentage of the working-age population that is economically active in a country. A higher LFPR signifies a larger supply of labor available to produce goods and services within an economy.
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"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."
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