Philippines Jobless Rate Down to Record Low


Philippines unemployment rate decreased to 6.0 percent in October of 2014 from 6.7 percent in July and hit a record low, as more people were employed in the services and agriculture sectors. Figures for the province of Leyte which was hit by typhoon Haiyan are not included.

Among unemployed people, 65.2 percent were males. The age group 15 to 24 years old accounted for 49.4 percent of total unemployed, while the age group 25 to 34 accounted for 30.2 percent. By educational attainment, 21.6 percent were college graduates, 13.5 percent were college undergraduates, and 33.3 percent were high school graduates.

Among regions, the National Capital Region (9.8 percent), Central Luzon (7.4 percent), and Calabarzon (7.1 percent) showed unemployment rates higher than the national figure (6.0 percent).

Meanwhile, the employment rate is estimated at 94.0 percent in October of 2014, up from 93.6 percent a year earlier. There were 38.8 million employed people: 53.7 percent worked in the services sector, 30.8 in agriculture and 15.6 percent in industry sector.

The country's jobless rate has been in a downward trend since the fourth quarter of 2013.

Philippines Jobless Rate Down to Record Low


National Statistics Office l Rida l rida@tradingeconomics.com
12/10/2014 4:38:21 AM