TIME.CO, Jakarta – The latest economic and economic news until Monday afternoon October 31st starting with the economist Celios explaining the increase in the provincial minimum wage (UMP) is needed amid the threat of a global recession in 2023.
In addition, the news of PT Bank Central Asia Tbk. or BCA (BBCA) has announced that it will remove the QRku service starting November 1, 2022. The abolition of the service serves to support QRIS which has been designated as a national QR code by Bank Indonesia. Here are three of the latest news that most readers have access to:
1. Alluding to the Research of the Nobel Prize in Economics, Observer: The rise of the UMP is precisely the antidote to the recession
Bhima Yudhistira, director of the Center of Economics and Law Studies (Celios), explained the increase in the provincial minimum wage (UMP) is needed amid the threat of a global recession in 2023. Because, according to Bhima, with the threat of a recession next year, more social protection is definitely needed.
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Furthermore, Bhima explained, it was actually based on research conducted by the winner nobelDavid Card’s economics. In his research, he said, the University of California economics professor showed that raising the minimum wage does not reduce job opportunities.
“In fact, it can be good for the economy, which is the increase in aggregate demand, which can actually be an antidote to the recession. That’s the theory,” he said on the phone Saturday, October 29, 2022.