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All Journal Jurnal Ekonomi dan Bisnis Digital (MINISTAL) Formosa Journal of Multidisciplinary Research (FJMR) Formosa Journal of Science and Technology (FJST) Journal of Finance and Business Digital (JFBD) Kreativasi: Journal of Community Empowerment Journal of Development Economics and Digitalization, Tourism Economics (JDEDTE)
Hermanto, Bambang Agoes
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Religion Humanities Civil Engineering, Building, Construction & Architecture Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Environmental Science Industrial & Manufacturing Engineering Social Sciences Other

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Journal : Formosa Journal of Science and Technology (FJST)

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The Impact of Minimum Wage, Economic Growth, and Unemployment on Poverty Levels in Sumatera Sihotang, Saut Martua; Hermanto, Bambang Agoes
Formosa Journal of Science and Technology Vol. 4 No. 1 (2025): January 2025
Publisher : PT FORMOSA CENDEKIA GLOBAL

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55927/fjst.v4i1.13002

Abstract

This study analyzes the effect of minimum wage, economic growth, and unemployment rate on the poverty rate in Sumatra Island, Indonesia. The data used is panel data from 10 provinces in Sumatra during the period 2016-2023.The analysis was conducted using the Random Effects Model (REM) method with EViews 12 software. The findings indicate that the minimum wage variable exerts a significant negative influence on the poverty rate, while economic growth demonstrates no substantial effect. Conversely, the unemployment rate exhibits a significant negative impact on poverty.These observations align with the principles of the Wage Efficiency theory and the Social Security Theory, underscoring the significance of augmenting the minimum wage and implementing policies to manage unemployment in efforts to alleviate poverty. However, it is important to note that national economic growth has not been sufficient to meaningfully address the issue of poverty, underscoring the necessity for a more targeted strategy that focuses on enhancing accessibility to education, healthcare, and economic opportunities for disadvantaged populations.
Co-Authors Dien Ajeng Fauziah Indraswanti, Bertha Iin Esti Khoir, Fatihul Lestari, L. Tri Mediansyah, Rizki Prastyo, Dimas Hadi Sa'adah, Ummi Sa’adah, Ummi Setiawan, Feri Sihotang, Saut Martua Simbolon, Richwan Gunawan Sunoto Sunoto