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Jakarta Post

Stimulus can absorb 3m new workers

  • Aditya Suharmoko

    THE JAKARTA POST

JAKARTA   /   Thu, February 26 2009   /  10:39 am

The government expects its stimulus package to absorb an extra 3 million workers amid large scale layoffs from companies hit by the global economic downturn. On late Tuesday, the government received approval from the House of Representatives to launch the stimulus package. The House even raised the amount by Rp 2 trillion to Rp 73.3 trillion in total. The Rp 2 trillion increase, which will be added to fund infrastructure projects, is expected to help absorb an additional 3 million workers, said State Minister for National Development Planning Paskah Suzetta. His estimate was based  the assumption that each additional  1 percent economic growth achieved could generate employment for between 431,000 and 450,000 people. According to the Finance Ministry, as of January export-oriented industries had laid off 24,790 workers, and were planning to lay off 25,000 more in ...