Determinants Of Syariah Stock Value On The Indonesian Stock Exchange
Keywords:
Skilled Labor Migration, Economic Growth, Minimum Wage, Educated Unemployment, IndonesiaAbstract
This study aims to analyze the influence of skilled labor migration (brain drain), economic growth, and provincial minimum wages on the level of educated unemployment in Indonesia. The increasing number of university graduates who are not absorbed into the labor market has become a major concern, particularly in the context of transnational labor mobility. Panel data from 22 provinces in Indonesia during the 2014–2018 period were employed to examine the relationships among the variables using a panel data regression approach. The estimation model selected was the fixed effect model based on the Chow and Hausman tests. The results reveal that brain drain and economic growth significantly influence educated unemployment. Brain drain has a positive effect, indicating that increased migration of educated labor abroad correlates with higher domestic unemployment in this segment. Conversely, economic growth exerts a negative effect, reflecting that increased economic output can absorb more educated labor. However, the provincial minimum wage does not have a significant impact on educated unemployment, suggesting that wage rigidity is not a major factor in the absorption of highly educated workers. These findings underscore the importance of strengthening labor market policies and creating a competitive domestic economic ecosystem to retain highly skilled human resources.
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