ECONOMIC RESILIENCE AMID THE LOWEST MINIMUM WAGE: A MIXED METHODS STUDY OF WORKER’S SURVIVAL STRATEGIES IN BANJARNEGARA

Abstract

This study aims to analyze the influence of income conditions, survival strategies, and financial management on the economic resilience of the Banjarnegara community. The study employs a mixed-method approach with an explanatory sequential design. The research population consists of
individuals aged 18–64 who live and work in Banjarnegara Regency, totaling 582,693 people. The sample size was determined using the Slovin formula with a 10% error margin, yielding 100 respondents. Quantitative data collection was conducted via an online questionnaire using Google
Forms with a four-point Likert scale, while qualitative data was obtained through online open-ended questionnaire in the form of narrative descriptions. Quantitative data analysis utilized multiple linear regression with the aid of IBM SPSS Statistics, while qualitative data was analyzed descriptively.

The results of the study indicate that income conditions and financial management have a positive and significant effect on the economic resilience of the Banjarnegara community. Meanwhile,
survival strategies do not have a significant effect on economic resilience. Simultaneously, income conditions, survival strategies, and financial management significantly affect the economic resilience of the Banjarnegara community. The Adjusted R Square value of 20.8% indicates that the research variables can explain 20.8% of economic resilience, while the remaining percentage is influenced by other factors outside the scope of this study. The interview results show that good financial management is a crucial factor in maintaining household economic stability amidst community economic pressures.