Indonesia Unemployment Rate Increase

By administrator | November 12, 2020 | Finance.
Indonesia Unemployment Rate Increase
Illustration: Indonesia Unemployment Rate Increase

Indonesia Unemployment Rate Increase. As well as Indonesia officially entered the brink of economic recession. Along with the economic recession in Indonesia, the number of unemployed has also increased. Indonesia is experiencing an economic recession after experiencing minus two consecutive quarters of growth.

The Central Statistics Agency (BPS) recorded Indonesia’s economic growth of minus 3.49% in the third quarter of 2020 on a year on year (yoy) basis. Previously, Indonesia’s economic growth in the second quarter of 2020 was minus 5.3% (yoy). Along with the economic recession, BPS noted that the number of unemployed for the August 2020 period increased rapidly.

The number of unemployed people in Indonesia reached 9.77 million people or reached 7.07% of the entire workforce. Previously, in August 2019 the number of unemployed people in Indonesia was only 7.10 million people or reached 5.23% of the total workforce. The largest contributor to the increase in unemployment in Indonesia came from cities, reaching 8.98%.

Meanwhile, the unemployment rate in rural areas is only 4.71%. BPS also noted, based on employment, the agricultural sector still dominates as a land of work, with a contribution of 29.76%. Then the trade sector contributed 19.23% and the manufacturing industry 13.61%.

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