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8 March, 2018 00:00 00 AM
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Number of jobless in Philippines declines

Xinhua

The number of unemployed in the Philippines has declined to 5.3 per cent, with employment rate rising to 94.7 per cent, according to government data released on Wednesday, reports Xinhua.

The Philippine Statistics Authority (PSA) said the country's unemployment rate in January 2018 hit 5.3 per cent, down from 6.6 per cent recorded in January 2017.

Among the regions, the National Capital Region or Metro Manila, Ilocos Region, and Calabarzon are the regions with the highest unemployment rates. The Calabarzon is comprised of five provinces and a city south of Manila.

The PSA said the employment rate in January 2018 was recorded at 94.7 per cent. In January 2017, it was 93.4 per cent.

"The labor force participation rate (LFPR) in January 2018 was estimated at 62.2 per cent given the population 15 years old and over of 70.9 million. The LFPR in January 2017 was 60.7 percent," the PSA added.

Meanwhile, the labor force grew to 70.9 million in January from 69.4 million from a year ago.

Data shows workers in the services sector comprised the largest proportion of the population who are employed, making up 55.9 per cent of the total employed in January 2018.

Workers in the agriculture sector comprised the second largest group making up 26.0 per cent, while workers in the industry sector made up the smallest group registering 18.1 per cent.

In January 2018, the PSA said the underemployment rate, which is the percentage of the underemployed to the total employed, was estimated at 18.0 per cent. In January 2017, the underemployment rate was 16.3 per cent. Underemployed persons are those that work for less than 40 hours in a week.

"This signals that the economy is responding positively to the economic reforms and programs that the government has been laying down," Socioeconomic Planning Secretary Ernesto Pernia said.

Pernia expressed optimism that the labor market will further improve in the coming months.

"More jobs are expected to be created during the country's infrastructure building-up, which will not only ease traffic and promote regional development, but also generate more quality jobs," he added.

 

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Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

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