IMF Projects Decline in Indonesian Unemployment, but Remains High in ASEAN
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The International Monetary Fund (IMF) projects that the open unemployment rate (OUR) in various countries worldwide will decline in 2021 and 2022. This is in line with the economic recovery following the impact of the Covid-19 coronavirus pandemic.
In Indonesia, the IMF estimates that the OUR will fall to 6.6% in 2021. This decline will continue to 6% next year.
However, Indonesia's OUR remains the second highest among the five other Southeast Asian countries. The Philippines ranks first with a projected OUR of 7.8% in 2021 and 6.8% in 2022.
Malaysia is below Indonesia with a projected OUR of 4.7% in 2021 and 4.5% in 2022. Vietnam's OUR is projected to be 2.7% in 2021 and 2.4% in 2022.
Meanwhile, Thailand's OUR is the lowest among other Southeast Asian countries. In 2021, the IMF projected Thailand's OUR at 1.5%. This figure is expected to further decrease to 1% next year.
"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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