Dream - As many as 10 million Gen Z are reported to be unemployed. The data was obtained from the report of the Central Statistics Agency (BPS) in 2023, which categorizes these Gen Z unemployed as "youth not in education, employment, and training" (NEET).
"Economic observer from the Indonesia Strategic and Economic Action Institution, Ronny P Sasmita, said that the unemployment represents about 13 percent of the total Gen Z in Indonesia. 'This means that the NEET rate among Gen Z is indeed quite high, around 13 percent of the total Gen Z in Indonesia,' said Ronny quoted from Liputan6.com, Friday, May 24, 2024."
He mentioned that the high NEET rate among Gen Z is influenced by seven main factors.
"Factor of Gen Z Unemployment"
The first factor is the low economic growth in Indonesia, resulting in low absorption of new labor force, including Gen Z. Therefore, if the national economy absorbs labor force far below the level of new workforce growth, then the chances of new workforce becoming unemployed automatically increase.
Secondly, Rony stated that the Incremental Labour Output Ratio (ILOR) in Indonesia is also quite low. Labor absorption per 1 percent of growth is declining day by day, especially due to the occurrence of new investments in the non-tradeable sector and technological disruption.
Third, the character of Gen Z is no longer the same as the previous generation. So their perspective on the working world is also different. Therefore, some available conventional job fields sometimes do not match the character of Gen Z.
"While investments in the technology sector and start-ups, which are more suitable for the Gen Z's character, are not too expansive, many have recently closed down. This adds to the potential unemployment among the Gen Z segment."
He said.
Fourth, the government has not been too optimal in driving the acceleration of investment in sectors that are suitable for the character of Gen Z, such as the digital economy, creative economy, tourism, and so on. "The government is still focused on driving conventional sectors that are considered strategic in contributing to growth," he said.
Fifth, on the other hand, the cost of education is getting more expensive day by day, which also makes Gen Z less interested in exploring further education levels.
The following is the translation of the given 'Bahasa' text to 'English' while preserving any HTML tags: "Sixth, the cost of starting a new business or becoming an entrepreneur is also not cheap, especially considering that Gen Z tends to be very consumptive, so on average they are unable to accumulate savings to be used as capital for a new business. "Seventh, the large number of NEETs among Gen Z proves that the pre-employment card program has failed," he concluded."
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