CANONICAL CORRELATION ANALYSIS OF ECONOMIC GROWTH AND UNEMPLOYMENT RATE
Abstract
The paper discusses the relationship between economic growth and the unemployment rate in Indonesia in each province in 2021. Both variables are considered as the dependent variable and there are 5 independent variables used in this research such as human index development, wage minimum region, poor citizens percentage, investment, and farmer rate value in each province. The method used to analyze is canonical correlation analysis, which is one of the dependent methods that are used for multivariate analysis. This method was used to determine which variable had the most significant relationship between dependent and independent variables, the data was taken from the Center of Statistics Bureau Indonesia in 2021. The result shows that among independent variables the human index development had the strongest relation it had 79%, while the correlation between the dependent and independent variable the unemployment rate gives the strongest influence it is 68%.
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