Unemployment Rates in Southeast Asia, 2024

In 2024, Indonesia has emerged with the highest unemployment rate among Southeast Asian countries, according to the latest reports from the International Monetary Fund (IMF). The unemployment rate, a critical economic indicator, measures the percentage of the labor force actively seeking employment but unable to secure jobs.

The unemployment rate serves as a barometer of a country’s job market health. A higher unemployment rate indicates greater challenges for job seekers in finding suitable employment, while a lower rate suggests a more robust job market where opportunities are more readily available.

Indonesia's unemployment rate for 2024 stands at 5.2%, reflecting significant economic challenges in matching job supply with demand. Factors contributing to this rate include economic fluctuations, workforce dynamics, and the impact of global and domestic economic policies.

Compared to its Southeast Asian neighbors, Indonesia’s 5.2% unemployment rate is notably higher. In contrast, Thailand reports the lowest unemployment rate in the region at 1.1%, indicating a relatively healthier job market environment characterized by lower levels of unemployment and higher job availability.

The high unemployment rate in Indonesia underscores the importance of targeted economic policies and initiatives aimed at enhancing job creation, skills development, and economic stability. Addressing unemployment challenges is crucial for promoting inclusive growth and improving living standards for the population.

The IMF report provides insights into Indonesia’s economic landscape and highlights areas where policy interventions can support job creation and economic resilience. Recommendations may include investments in education and training, infrastructure development, and measures to stimulate private sector investment and entrepreneurship.

Indonesia’s status with the highest unemployment rate in Southeast Asia for 2024 at 5.2% reflects ongoing economic challenges and the need for proactive measures to enhance job market conditions. As policymakers and stakeholders navigate these challenges, addressing unemployment will be crucial for fostering sustainable economic growth and ensuring opportunities for all Indonesians in the workforce. The IMF’s assessment provides a valuable framework for understanding the dynamics of Indonesia’s job market and charting a path toward economic resilience and prosperity.