Jakarta, Indonesia Sentinel — Indonesia recorded the highest unemployment rate among six major Southeast Asian nations in 2024, according to the International Monetary Fund’s (IMF) World Economic Outlook released in April 2024.
The ranking calculates unemployment as the percentage of the labor force, defined as individuals aged 15 and older who are actively seeking work. The figure does not include students, homemakers, or others not participating in the job market.
The IMF report estimates Indonesia’s unemployment rate at 5.2% as of April 2024, edging just slightly down from 5.3% in 2023.
The figure places Indonesia at the top of the unemployment ranking in the ASEAN, ahead of the Philippines (5.1%), Malaysia (3.5%), Vietnam (2.1%), Singapore (1.9%), and Thailand (1.1%).
Meanwhile Myanmar, Cambodia, and Laos wasn’t included on the rankings due to the absence of data.
IMF record the average unemployment rate across the six countries stood at 3.29%, based on historical IMF data from 1980 and projections through 2028. Here’s the list of Unemployment Rate in South East Asia, According IMF:
Southeast Asia Unemployment Rates 2024
- Indonesia: 5.2% (Population: 279.96 million)
- Philippines: 5.1% (Population: 114.16 million)
- Malaysia: 3.5% (Population: 33.46 million)
- Vietnam: 2.1% (Population: 100.77 million)
- Singapore: 1.9% (Population: 5.94 million)
- Thailand: 1.1% (Population: 70.27 million)
While the IMF data is based on international labor standards, Indonesia’s national statistics agency, BPS (Badan Pusat Statistik), reported a slightly lower figure.
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As of August 2024, BPS recorded an open unemployment rate (TPT) of 4.91%, meaning approximately 5 out of every 100 working-age Indonesians were unemployed and actively looking for work.
BPS defines unemployment to include those who are jobless but actively seeking work, preparing to start a new business, or awaiting a job offer. The metric also accounts for those who have become discouraged and stopped looking for work altogether.
The open unemployment rate serves as a critical indicator of how well a country’s labor supply is being absorbed by its job market.
Despite the slightly different figure, both data highlights the need for an improvement to address unemployment rate in Indonesia.
(Raidi/Agung)
