Employment rate dips in October, but job quality improves
MANILA, Philippines — The proportion of employed Filipinos declined in October, the country’s statistics agency reported Wednesday, although job quality improved during the month.
The unemployment rate was at 5.1 percent in October, a tad higher than 5 percent recorded in the same month last year.
On the other hand, employment rate stood at 94.9 percent, lower than 95 percent posted a year ago.
Meanwhile, those who were underemployed — or employed persons who are still looking for more work or longer working hours — dipped 13.3 percent in October from 15.9 percent in the comparable period last year. This is the lowest underemployment rate recorded for all October rounds since 2006, the National Economic and Development Authority said.
“This signals that the quality of work is improving even outside the National Capital Region. We attribute this to expanding employment opportunities and the approval of nominal increases in regional wages supported by labor productivity improvements,” Socioeconomic Planning Secretary Ernesto Pernia said. — Ian Nicolas Cigaral
- Latest
- Trending
