Indonesian Unemployment Falls to 7.2 Million at the Start of 2024

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Nabilah Muhamad 07/05/2024 14:37 WIB

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According to BPS data, the number of unemployed people in Indonesia was nearly 7.2 million in February 2024, a decrease of approximately 790,000 compared to the previous year.

Open Unemployment Rate in Indonesia (February 2019-February 2024)

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Indonesian Unemployment Falls to 7.2 Million at the Start of 2024

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Open Unemployment Rate in Indonesia (February 2019-February 2024)

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Based on data from the Central Statistics Agency (BPS), the number of unemployed people in Indonesia reached almost 7.2 million in February 2024.

This number decreased by approximately 790,000 people, or a 9.89% decrease year-on-year (YoY) compared to February 2023.

According to BPS, this unemployment data encompasses four population groups, namely:

* People in the workforce who are unemployed and actively seeking employment;
* People who are unemployed and preparing to start a business;
* People who are unemployed and not seeking employment because they feel it is impossible to find a job; and
* People who already have a job but have not yet started working.

Indonesia's Open Unemployment Rate (OUR) in February 2024 reached 4.82%, down from 5.45% in February 2023.

The OUR in February 2024 is also lower than the pre-pandemic period of 2019, as shown in the graph above.

The OUR is the ratio of the number of unemployed to the total number of the workforce (the population aged 15 and over who are employed, or have a job but are temporarily not working, and the unemployed).

This ratio serves as an indicator to measure the workforce not absorbed by the job market.

As of February 2024, the total Indonesian workforce amounted to 149.38 million people. This number increased by approximately 2.76 million people, or grew by 1.88% (YoY) compared to February of the previous 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."

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Indonesian Unemployment Falls to 7.2 Million at the Start of 2024

Indonesian Unemployment Falls to 7.2 Million at the Start of 2024

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Indonesian Unemployment Falls to 7.2 Million at the Start of 2024

Indonesian Unemployment Falls to 7.2 Million at the Start of 2024

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