Abstrak. Penelitian ini didasari oleh kondisi pengangguran di Indonesia yang masih menjadi masalah dalam suatu perekonomian. Faktor yang diduga dapat mempengaruhi perubahan tingkat pengangguran yaitu adanya fenomena ekonomi seperti krisis ekonomi tahun 1997, depresiasi kurs dan guncangan harga minyak dunia. Teori stagflasi menyatakan bahwa ketika terjadi perubahan kurs dan harga minyak dunia dapat menyebabkan tingkat pengangguran meningkat dan output berkurang yang pada akhirnya akan menggeser kurva penawaran dan permintaan agregat. Penelitian ini bertujuan untuk mengestimasi model ekonometrika yang dapat menjelaskan pengaruh krisis ekonomi tahun 1997, perubahan kurs dan harga minyak dunia terhadap tingkat pengangguran. Metode yang digunakan adalah metode Ordinary Least Square (OLS) dengan model Varibel Dummy. Data yang digunakan yaitu data time series dari tahun 1988 sampai dengan tahun 2017. Hasil penelitian menunjukkan bahwa kurs tidak berpengaruh terhadap tingkat pengangguran sebelum krisis ekonomi tahun 1997, sedangkan kurs memiliki pengaruh positif dan signifikan setelah adanya krisis ekonomi tahun 1997. Harga minyak dunia tidak berpengaruh terhadap tingkat pengangguran, baik sebelum maupun setelah krisis ekonomi tahun 1997.Kata Kunci: Tingkat Pengangguran, Krisis Ekonomi 1997, Kurs, Harga Minyak DuniaAbstract. This research is based on the condition of unemployment in Indonesia which is still a problem in an economy. Factors that can affects changes in the unemployment rate is the existence of economic phenomenon such as economic crisis in 1997, exchange rate and the world oil price. Stagflation theory stated that when there was an increase in exchange rate and world oil price can increase the level of unemployment and decrease the output that at the end would shift the supply and demand aggregate. This research aims to estimate the econometric model that can explain causes of economic crisis, exchange rate and world oil price to level of unemployment. Ordinary Least Square (OLS) with Variabel Dummy Model. The data that used is time series data from 1988 to 2017. The results showed that the exchange rate had no effect on the unemployment rate before the economic crisis in 1997, while the exchange rate had a positive and significant influence after the economic crisis in 1997. The world oil price had no effect on the unemployment rate, both before and after the economic crisis in 1997.Keywords: Unemployment, Economic Crisis in 1997, Exchange Rate, World Oil PriceAbstract. This research is based on the condition of unemployment in Indonesia which is still a problem in an economy. Factors that can affects changes in the unemployment rate is the existence of economic phenomenon such as economic crisis in 1997, exchange rate and the world oil price. Stagflation theory stated that when there was an increase in exchange rate and world oil price can increase the level of unemployment and decrease the output that at the end would shift the supply and demand aggregate. This research aims to estimate the econometric model that can explain causes of economic crisis, exchange rate and world oil price to level of unemployment. Ordinary Least Square (OLS) with Variabel Dummy Model. The data that used is time series data from 1988 to 2017. The results showed that the exchange rate had no effect on the unemployment rate before the economic crisis in 1997, while the exchange rate had a positive and significant influence after the economic crisis in 1997. The world oil price had no effect on the unemployment rate, both before and after the economic crisis in 1997.Keywords: Unemployment, Economic Crisis in 1997, Exchange Rate, World Oil Price