Philippines Jobless Rate Hits Record Low

Philippines unemployment rate fell to 5.7 percent in October of 2015, the lowest in the record, and beating market forecasts of 6.5 percent. The figure excludes Leyte Region.

In October, there were 2,372 thousand unemployed persons. Among the unemployed persons, 63.4 percent were males. The age group 15 to 24 years comprised 48.0 percent, while the age group 25 to 34 was at 32.1 percent. By educational attainment, 22.6 percent of the unemployed were college graduates, 13.3 percent were college undergraduates, and 43.6 percent were high school graduates.

The number of underemployed was 7,021 persons. More than 50 percent worked for less than 40 hours a week. 40.0 percent of underemployed worked in the agriculture sector, while 42.3 percent were in the services sector. Those in the industry sector accounted for 17.8 percent. 

There were 39,779 thousand employed persons. 54.5 percent worked in the services sector, 29.6 percent in agriculture and the remaining 15.9 percent in the industry sector . 

The labour force participation rate fell to 63.4 percent, down from 64.3 percent a year ago.

In July 2015, unemployment rate in the country stood at 6.5 percent, slightly up from 6.4 percent in April.

Philippines Jobless Rate Hits Record Low

PSA l Rida Husna |
12/10/2015 2:56:37 AM