Unemployment rate to drop to 7.6 percent
Aditya Suharmoko , The Jakarta Post , Jakarta | Fri, 04/16/2010 2:44 PM | Business
The government estimated unemployment rate this year may decline to 7.6 percent if the economy expands 5.8 percent, assuming that every 1 percent growth to absorb 400,000 labors.
Coordinating Minister for the Economy Hatta Rajasa told reporters from 2000 to 2006 every 1 percent growth absorbed 200,000 labors, but in the past three years such growth could absorb up to 400,000 labors.
"If this happens, new workforce can be absorbed in addition to the existing unemployed," he said Friday.
Latest data of the Central Statistics Agency (BPS) revealed that between August 2008 and August 2009 there were 1.88 million new workforce.
Unemployment rate in August last year reached 7.87 percent of 113.83 million total workforce, the data showed.
Hatta estimated poverty rate this year to drop to between 12 percent and 13.5 percent this year from 14.15 percent in March 2009, as recorded by the BPS.
