Indonesia Employment Outlook 2024

Abstract

The global economy in 2023 shows optimism for improvement and positive development. This is reflected in easing and relatively controlled inflation pressures in various countries, reduced energy price volatility, a strong labor market in developed countries, and resilient global demand. Over the last 3 years, the global economy has undergone significant changes. Some challenges faced include global economic uncertainty, the impact of the COVID-19 pandemic, geopolitical tensions, technological changes, and climate change. The global economic growth in the last three years has undergone significant dynamics. Most countries experienced a deceleration in economic growth during the 2020 COVID-19 pandemic. Subsequently, in 2021 and 2022, some of these countries improved their economies and experienced favorable growth rates, even showing positive trends compared to the previous year, such as Saudi Arabia and Indonesia. Meanwhile, the global inflation rate has been relatively variable over the past four years. Inflation in 2023 in both developed and developing countries tends to weaken compared to the previous year.