Philippines Unemployment Rate Down to 2-Year Low in October


In October of 2013, Philippines jobless rate fell to 6.5 percent, the lowest value since since October of 2011.

There were 2.6 million unemployed in the Philippines in October, down from 3.0 million in July.

Among the unemployed persons, 64.4 percent were males. Of the total unemployed, the age group 15 to 24 years comprised 47.5 percent, while the age group 25 to 34, 31.9 percent. By educational attainment, about one-fifth (21.4 percent) of the unemployed were college graduates, 13.9 percent were college undergraduates, and 33.5 percent were high school graduates.  

The visibly underemployed persons or those working for less than 40 hours accounted for 62.4 percent of the total underemployed in October 2013. Those who worked for 40 hours or more made up 36.1 percent. By sector, about 45.2 percent of underemployed worked in the agriculture sector, while 39.6 percent were in the services sector. Those in the industry sector accounted for 15.2 percent.

The employment rate in October 2013 is estimated at 93.5 percent. Among the regions, the National Capital Region had the lowest employment rate at 89.8 percent. The two adjoining regions of the NCR, namely, Central Luzon (92.2 percent) and Calabarzon (91.9 percent) showed rates lower than the national figure. These findings are based on the October 2013 Labor Force Survey (LFS). In this round of the LFS, the calculation of employment indicators excludes the data from the province of Leyte, which was devastated by Typhoon Yolanda.

The labor force participation rate in October 2013 is estimated at 63.9 percent.

Philippines Unemployment Rate Down to 2-Year Low in October


National Statistics Office | Joana Taborda | joana.taborda@tradingeconomics.com
12/10/2013 6:33:33 PM