Jobless rate up slightly in October

MANILA, Philippines - The country’s unemployment rate went up slightly in October from a year ago, the National Statistics Office (NSO) reported yesterday.

Results of the NSO’s Labor Force Survey released yesterday showed that the unemployment rate stood at 6.8 percent in October, slightly higher than last year’s 6.4 percent.

Compared to the unemployment rate of seven percent in the previous quarter, the country’s latest jobless rate, however, showed improvement.

The statistics agency noted that for the period, the number of unemployed persons was still estimated at 2.8 million.

The NSO said among all regions, Metro Manila registered the highest unemployment rate at 11 percent, while Cagayan Valley recorded the lowest at 2.4 percent.

It also said that among unemployed persons, there were more males, which had a 62.1-percent share, compared to females, which accounted for the 37.9- percent balance.

Most, or about 48.5 percent of the unemployed persons for the period, were aged between 15 to 24 years.

By educational group, 33.4 percent of the unemployed persons were high school graduates, 12.4 percent were college undergraduates, while 20.3 percent were college graduates.

University of the Philippines School of Labor and Industrial Relations professor Rene Ofreneo said in a text message yesterday that the latest unemployment figures show that the country’s economic growth is not leading to more jobs.

“Growth in the stock market and a few sectors like call centers, BPO (business process outsourcing) and services (are) not touching everybody,” he said.

“(It is) time for the Aquino administration to seriously address jobless growth and ensure inclusive, balanced and sustainable development,” he further said.